Published on 10/26/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $742,000 autocallable securities on Nasdaq, Russell, Dow
By Kiku Steinfeld
Chicago, Oct. 26 – Citigroup Global Markets Holdings Inc. priced $742,000 of 0% autocallable securities due Feb. 26, 2027 tied to the Nasdaq-100 index, the Russell 2000 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 valuation date, the notes will be called at par plus an annualized call premium of 7.5%.
If each index finishes at or above its trigger level, 95% of its initial level, the payout at maturity will be par plus 37.5%.
If the least performing index finishes below 95% of initial level but not below the final barrier level, 70% 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.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $742,000
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| Maturity: | Feb. 26, 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 trigger level, par plus 37.5%; if the least performing index finishes below trigger 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
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| Call: | If each index closes at or above its initial level on any annual valuation date, par plus an annualized call premium of 7.5%
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| Initial levels: | 33,131.76 for Dow, 1,944.092 for Russell, 13,509.43 for Nasdaq
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| Triggers: | 31,475.172 for Dow, 1,846.887 for Russell, 12,833.959 for Nasdaq; 95% of initial levels
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| Final barriers: | 23,192.232 for Dow, 1,360.864 for Russell, 9,456.601 for Nasdaq; 70% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17330AFC1
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