Published on 9/28/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.8 million autocallable contingent coupon equity linked securities on indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 28 – Citigroup Global Markets Holdings Inc. priced $1.8 million of autocallable contingent coupon equity linked securities due March 28, 2024 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.7% per year, paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities will be called at par if all three indexes close at or above their initial levels on any monthly review date after three months.
The payout at maturity will be par if the worst performing index ends at or above its 70% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing index declines from initial level.
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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $1,795,000
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| Maturity: | March 28, 2024
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| Coupon: | 12.7% per year, paid monthly if the worst performing index closes at or above its 70% 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; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call: | Automatically at par if each index closes at or above its initial level on any monthly review date after three months
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| Initial levels: | 11,311.24 for Nasdaq, 1,679.59 for Russell, 3,693.23 for S&P
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| Coupon barriers: | 7,917.87 for Nasdaq, 1,175.713 for Russell, 2,585.26 for S&P, 70% of initial levels
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| Final barriers: | 7,917.87 for Nasdaq, 1,175.713 for Russell, 2,585.26 for S&P, 70% of initial levels
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| Pricing date: | Sept. 23
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| Settlement date: | Sept. 28
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.725%
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| Cusip: | 17330RNJ0
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