Published on 8/15/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup Global prices $4.37 million contingent coupon equity autocalls on indexes
Chicago, Aug. 15 – Citigroup Global Markets Holdings Inc. priced $4.37 million of autocallable contingent coupon equity linked securities due July 29, 2027 linked to the worst performing of the Dow Jones industrial average and S&P 500 Dynamic Participation index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.75% paid monthly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date.
The securities will be called automatically at par starting July 26, 2023 and on any subsequent monthly review date if the worst performer finishes above its initial level.
The payout at maturity will be par if the worst performing index ends at or above its 85% final buffer level. Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond the 15% buffer.
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 contingent coupon equity linked securities
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| Underlying indexes: | Dow Jones industrial average and S&P 500 Dynamic Participation index
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| Amount: | $4,365,000
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| Maturity: | July 29, 2027
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| Coupon: | 8.75% annual rate, paid monthly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date
|
| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above final buffer par; otherwise, 1% loss for every 1% that worst performing index declines beyond buffer
|
| Call: | Automatically at par starting July 26, 2023 and on any subsequent monthly review date if worst performer finishes above initial level
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| Initial levels: | 31,761.54 for Dow, 595.60 for S&P 500
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| Coupon barrier: | 23,821.155 for Dow, 446.700 for S&P 500, 75% of initial levels
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| Buffer levels: | 26,997.309 for Dow, 506.26 for S&P 500, 85% of initial levels
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| Pricing date: | July 26
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| Settlement date: | July 29
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4%
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| Cusip: | 17330PET2
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