Published on 9/11/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.5 million 7.5% autocallable contingent coupon notes on indexes
Chicago, Sept. 11 – Citigroup Global Markets Holdings Inc. priced $1.5 million of autocallable contingent coupon equity-linked securities due Sept. 2, 2026 linked to the worst performing of the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.5% paid quarterly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date.
The securities will be called automatically at par starting Feb. 28, 2024 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date.
If the worst performing index finishes at or above its 70% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing index declines.
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: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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Amount: | $1,499,000
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Maturity: | Sept. 2, 2026
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Coupon: | 7.5% annual rate, paid quarterly if the worst performing index closes at or above its 80% 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 barrier par; 1% loss for every 1% that worst performing index declines if it ends below final barrier
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Call: | Automatically at par starting Feb. 28, 2024 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date
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Initial levels: | 34,559.98 for Dow, 15,052.46 for Nasdaq, 1,869.007 for Russell
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Coupon barriers: | 27,647.984 for Dow, 12,041.968 for Nasdaq, 1,495.206 for Russell, 80% of initial levels
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Final barriers: | 24,191.986 for Dow, 10,536.722 for Nasdaq, 1,308.305 for Russell, 70% of initial levels
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Pricing date: | Aug. 28
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Settlement date: | Aug. 31
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3%
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Cusip: | 17291RUV2
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