Published on 11/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $41,000 autocallable securities linked to Russell, S&P
Chicago, Nov. 10 – Citigroup Global Markets Holdings Inc. priced $41,000 of 0% autocallable securities due Oct. 29, 2026 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus 10% premium if the worst performing index closes at or above its initial value on Oct. 29, 2024.
If the worst performing index finishes flat or gains, the payout at maturity will be par plus a 39% premium for the final valuation date.
Investors will receive par if the worst performing index declines but ends at or above the 80% barrier and lose 1% for every 1% that the worst performing index declines if it finishes below its barrier.
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: | Russell 2000 index and S&P 500 index
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Amount: | $41,000
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Maturity: | Oct. 29, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its initial value, par plus 39% premium for final valuation date; par if worst performing index declines but finishes at or above its 80% barrier; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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Call: | Automatically at par plus a 10% annual premium if the worst performing index closes at or above its initial value on Oct. 29, 2024
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Initial levels: | 4,137.23 for S&P, 1,657.003 for Russell
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Final barriers: | 3,309.784 for S&P, 1,325.602 for Russell, 80% of initial levels
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Pricing date: | Oct. 26
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Settlement date: | Oct. 31
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.25%
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Cusip: | 17291QVE1
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