Published on 6/2/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.86 million autocallable securities on Russell, S&P, Dow
By William Gullotti
Buffalo, N.Y., June 2 – Citigroup Global Markets Holdings Inc. priced $2.86 million of 0% autocallable securities due May 28, 2027 tied to the Russell 2000 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 guaranteed by Citigroup Inc.
If each index closes at or above of its initial level on any annual observation date, the notes will be called at par plus an annual premium of 10.5%.
If each index finishes at or above its initial level, the payout at maturity will be par plus 52.5%.
If the least performing index finishes below its initial level but not below the barrier level, 75% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying indexes: | Russell 2000 index, S&P 500 index, Dow Jones industrial average
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| Amount: | $2,857,000
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| Maturity: | May 28, 2027
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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 52.5%; if the least performing index finishes below its initial level but not below the barrier level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level
|
| Call: | If each index closes at or above its initial level on any annual observation date, the notes will be called at par plus an annual premium of 10.5%
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| Initial levels: | 35,058.52 for Dow, 14,956.97 for S&P, 2,191.833 for Russell
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| Barrier levels: | 22,788.038 for Dow, 9,722.031 for S&P, 1,424.691 for Russell; 75% of initial levels
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| Pricing date: | May 25
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| Settlement date: | May 31
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.1%
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| Cusip: | 17330FZB0
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