Published on 12/4/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $787,000 autocallable securities linked to Dow, Russell
Chicago, Dec. 4 – Citigroup Global Markets Holdings Inc. priced $787,000 of 0% autocallable securities due Oct. 29, 2027 linked to the worst performing of the Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on Oct. 27, 2023 with a premium of a 7.25% annual rate if the worst performing index closes above 90% of its initial value and on any subsequent quarterly review date.
If the worst performing index gains or declines but by no more than the 10% buffer, the payout at maturity will be par plus the 36.25% premium for the final valuation date.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond its buffer.
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: | $787,000
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Maturity: | Oct. 29, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index gains or declines but 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 the buffer
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Call: | Automatically starting on Oct. 27, 2023 with a premium of a 7.25% annual rate if the worst performing index closes above 90% of its initial value and on any subsequent quarterly review date
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Initial levels: | 31,839.11 for Dow, 1,804.331 for Russell
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Buffer levels: | 28,655.199 for Dow, 1,623.898 for Russell, 90% of initial level
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Buffer: | 10%
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Pricing date: | Oct. 26, 2022
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Settlement date: | Oct. 31, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.5%
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Cusip: | 17330RRL1
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