Published on 4/29/2024 in the Prospect News Structured Products Daily.
New Issue: Citi prices $4.97 million autocallable barrier securities linked to Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, April 29 – Citigroup Global Markets Holdings Inc. priced $4.97 million of 0% autocallable barrier securities due Aug. 5, 2025 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains the payout will be par plus 300% of the worst performing index return. Investors will receive par if the worst performing index declines but ends at or above its 70% final barrier and they will lose 1% for every 1% that the worst performing index declines if it finishes below the final barrier.
The notes will be called automatically at a premium of 12.5% if the worst performing index closes above its initial value on July 31, 2024.
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 barrier securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $4,969,000
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| Maturity: | Aug. 5, 2025
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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 300% of the worst performing index return; if worst performing index declines but finishes at or above its 70% final barrier, par; 1% loss for every 1% that worst performing index declines if it finishes below its final barrier
|
| Initial levels: | 15,757.00 for Nasdaq index, 2,003.177 for Russell, 4,588.96 for S&P
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| Final barriers: | 11,029.900 for Nasdaq index, 1,402.224 for Russell, 3,212.272 for S&P, 70% of initial level
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| Call: | Automatically at a premium of 12.5% if the worst performing index closes above its initial value on July 31, 2024
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| Upside leverage: | 300%
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| Pricing date: | July 31, 2023
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| Settlement date: | Aug. 3, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17291RTX0
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