Published on 8/17/2023 in the Prospect News Structured Products Daily.
New Issue: Citi sells $260,000 autocallable barrier securities on Nasdaq, Dow, S&P
Chicago, Aug. 17 – Citigroup Global Markets Holdings Inc. priced $260,000 of 0% autocallable barrier securities due July 27, 2027 linked to the performance of the Nasdaq-100 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically redeemed at par plus an annualized 16.35% call premium if all indexes close at or above their initial levels on any annual call observation date.
If the notes are not called and all indexes finish at or above their initial levels, the payout at maturity will be par plus the return of the least performing index.
If the worst performer declines but finishes above 70% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its 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 barrier securities
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Underlying indexes: | Nasdaq-100 index, S&P 500 index, Dow Jones industrial average
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Amount: | $260,000
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Maturity: | July 27, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If all indexes finish positive, par plus the return of the worst performer; par if at least one index declines but worst performer finishes above barrier level; otherwise, investors will lose 1% for each 1% decline from the initial level of the worst performing index
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Call: | At par plus 16.35% annualized call premium if each index closes at or above initial level on any annual call observation date
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Initial levels: | 12,396.47 for Nasdaq, 3,961.63 for S&P, 31,899.29 for Dow
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Trigger levels: | 8,677.529 for Nasdaq, 2,773.141 for S&P, 22,329.503 for Dow; 70% 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: | 0.75%
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Cusip: | 17330PJ67
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