Published on 6/22/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $42,000 autocallable contingent coupon notes on S&P, Russell
Chicago, June 22 – Citigroup Global Markets Holdings Inc. priced $42,000 of autocallable contingent coupon equity-linked securities due June 4, 2026 linked to the worst performing of the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.1% paid monthly if the worst performing index closes at or above its 85% coupon barrier on the related valuation date.
The securities will be called automatically at par starting May 31, 2024 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date.
If the worst performing index finishes at or above its 85% final buffer level the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing index declines beyond the 15% 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 contingent coupon equity-linked securities
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $42,000
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Maturity: | June 4, 2026
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Coupon: | 9.1% annual rate, paid monthly if the worst performing index closes at or above its 85% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above final buffer level, par; otherwise, 1% loss for every 1% that worst performing index declines beyond 15% buffer
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Call: | Automatically at par starting May 31, 2024 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date
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Initial levels: | 1,749.65 for Russell, 4,179.83 for S&P
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Coupon barriers: | 1,487.203 for Russell, 3,552.856 for S&P, 85% of initial levels
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Final buffer levels: | 1,487.203 for Russell, 3,552.856 for S&P, 85% of initial levels
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Pricing date: | May 31
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Settlement date: | June 5
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.6%
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Cusip: | 17331HM29
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