Published on 11/7/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.9 million autocallable securities linked to Dow, Russell, S&P
New York, Nov. 7 – Citigroup Global Markets Holdings Inc. priced $1.9 million of 0% autocallable securities due Nov. 4, 2027 linked to the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at a 14.8% annualized premium if the worst performing index closes at or above its call level, 92% of initial level, on any semiannual review date starting on Oct. 30, 2023.
If the worst performing index finishes at or above call level, the payout at maturity will be par plus the premium for the final valuation date.
Investors will receive par if the worst performing index declines beyond 8% but no more than 25% and will lose 1% for every 1% that the worst performing index declines if it finishes below its barrier.
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 securities
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $1,901,000
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| Maturity: | Nov. 4, 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 its call level, par plus premium for final valuation date; par if worst performing index declines more than 8% but finishes at or above its 75% barrier; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call: | Automatically at a 14.8% annualized premium if the worst performing index closes at or above call value, 92% of its initial level, on any semiannual review date starting on Oct. 30, 2023
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| Initial levels: | 32,861.80 for Dow Jones industrial average, 1,846.921 for Russell 2000 index, 3,901.06 for S&P 500 index
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| Final barriers: | 24,646.350 for Dow Jones industrial average, 1,385.191 for Russell 2000 index, 2,925.795 for S&P 500 index, 75% of initial level
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| Pricing date: | Oct. 28
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| Settlement date: | Nov. 4
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0%
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| Cusip: | 17330YBT6
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