Published on 2/8/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3.65 million autocallable securities on Nasdaq, Dow, S&P
By Wendy Van Sickle
Columbus, Ohio, Feb. 8 – Citigroup Global Markets Holdings Inc. priced $3.65 million of 0% autocallable securities due Aug. 7, 2025 linked to the lowest performing of the Nasdaq-100 index, the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc,
The notes will be automatically called at par plus an annual redemption premium of 12% if each index closes at or above its initial level on any semiannual observation date after one year.
If the notes are not called and the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus 42%.
If the worst performer declines but finishes at or above its downside threshold, 70% of its initial level, the payout will be par.
If the final level of any index is less than its downside threshold, investors will lose 1% for each 1% decline of the lesser performing index from its initial level.
The agent is Citigroup Global Markets Inc.
| 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, S&P 500 index, Nasdaq-100 index
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| Amount: | $3.65 million
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| Maturity: | Aug. 7, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus 42%; if the worst performer declines up to its downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing index from initial levels
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| Call: | Automatically at par plus annualized redemption premium of 12% if each index closes at or above its initial level on any semiannual observation date after one year
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| Initial levels: | 4,589.38 for S&P, 35,629.33 for Dow, 15,139.74 for Nasdaq
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| Downside thresholds: | 3,212.566 for S&P, 24,940.531 for Dow, 10,597.818 for Nasdaq; 70% of initial levels
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| Pricing date: | Feb. 2
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| Settlement date: | Feb. 7
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17330A3Z3
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