Published on 11/4/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.19 million autocallable securities on Dow, Nasdaq, Russell
By Kiku Steinfeld
Chicago, Nov. 4 – Citigroup Global Markets Holdings Inc. priced $1.19 million of 0% autocallable securities due March 11, 2027 linked to the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically on any annual review date starting March 8, 2023 at par plus 7.8% per year if the worst performing index closes at or above 95% of its initial value.
The payout at maturity will be par plus 39% if the worst performing index closes at or above 95% of its initial level. If the worst performing index closes below 95% but no lower than 70%, the payout will be par. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its 70% barrier.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $1,187,000
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| Maturity: | March 11, 2027
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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 95% of its initial level, par plus 39%; if worst performing index closes below 95% but no lower than 70%, par; 1% loss for every 1% that worst performing index declines if it drops below barrier level
|
| Call: | Automatically on any annual review date starting March 8, 2023 at par plus 7.8% per year if the worst performing index closes at or above 95% of its initial value
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| Initial levels: | 32,817.38 for Dow, 13,319.38 for Nasdaq, 1,951.329 for Russell
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| Barriers: | 22,972.166 for Dow, 9,323.566 for Nasdaq, 1,365.930 for Russell, 70% of initial levels
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| Pricing date: | March 7
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| Settlement date: | March 10
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
|
| Cusip: | 17330ASU7
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