Published on 6/2/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.26 million autocallable securities linked to Dow, Russell
New York, June 2 – Citigroup Global Markets Holdings Inc. priced $2.26 million of 0% autocallable securities due May 31, 2028 linked to the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus a 6.25% annualized call premium if the worst performing index closes at or above 90% of its initial value on any quarterly review date starting on May 29, 2024.
If the worst performing index finishes at or above 90% of initial level, the payout at maturity will be par plus the premium for the final valuation date.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond 10%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Autocallable securities
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Underlying indexes: | Dow Jones industrial average and Russell 2000 index
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Amount: | $2,256,000
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Maturity: | May 31, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing finishes at or above its 90% buffer, par plus premium for final valuation date; otherwise, 1% loss for every 1% that worst performing index declines beyond 10%
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Call: | Automatically at par plus a 6.25% annualized call premium if the worst performing index closes at or above 90% of its initial value on any quarterly review date starting on May 29, 2024
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Initial levels: | 32,764.65 for Dow Jones industrial average, 1,754.605 for Russell 2000 index
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Buffer: | 10%
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Buffer level: | 29,488.185 for Dow Jones industrial average, 1,579.145 for Russell 2000 index, 90% of initial level
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Pricing date: | May 25
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Settlement date: | May 31
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.5%
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Cusip: | 17331HJ56
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