Published on 8/17/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $745,000 10.55% autocallable contingent coupon equity notes on indexes
Chicago, Aug. 17 – Citigroup Global Markets Holdings Inc. priced $745,000 of autocallable contingent coupon equity linked securities due July 27, 2023 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 10.55% paid quarterly if the worst performing index closes at or above its 60% coupon barrier on the related valuation date.
The securities will be called automatically at par starting Oct. 24, 2022 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date.
The payout at maturity will be par if the worst performing index finishes at or above its initial level or the underlying indexes never close below the 60% knock-in value during the life of the note. 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: | Russell 2000 index and S&P 500 index
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| Amount: | $745,000
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| Maturity: | July 27, 2023
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| Coupon: | 10.55% annual rate, paid quarterly if the worst performing index closes at or above its 60% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | Par if worst performing index finishes at or its initial level or underlying indexes never close below knock-in value during life of note; otherwise, 1% loss for every 1% that worst performing index declines
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| Call: | Automatically at par starting Oct. 24, 2022 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: | 1,806.881 for Russell, 3,961.63 for S&P
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| Coupon barriers: | 1,084.129 for Russell, 2,376.978 for S&P, 60% of initial levels
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| Final barriers: | 1,084.129 for Russell, 2,376.978 for S&P, 60% of initial levels
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| Pricing date: | July 22, 2022
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| Settlement date: | July 27, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.725%
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| Cusip: | 17330PJE0
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