Published on 2/14/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $288,000 autocallable buffer securities linked to Russell
Chicago, Feb. 14 – Citigroup Global Markets Holdings Inc. priced $288,000 of 0% autocallable buffer securities due Jan. 4, 2027 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically if the level of the index is greater than or equal to its initial level on Jan. 6, 2025 at a premium of 11.55%.
If the index gains the payout will be par plus 150% of its return. Investors will receive par if the index declines but ends at or above its 10% buffer and they will lose 1% for every 1% that the index declines beyond the 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 buffer securities
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Underlying index: | Russell 2000 index
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Amount: | $288,000
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Maturity: | Jan. 4, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above its initial value, par plus 150% of its return; par if index declines but finishes at or above its 10% buffer; 1% loss for every 1% that index declines beyond buffer
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Call: | Automatically if the level of the index is greater than or equal to its initial level on Jan. 6, 2025 at a premium of 11.55%
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Initial level: | 2,027.074
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Buffer level: | 1,824.3666, 90% of initial level
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Upside leverage: | 150%
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Buffer: | 10%
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Pricing date: | Dec. 29, 2023
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Settlement date: | Jan. 4, 2024
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.5%
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Cusip: | 17291TUF3
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