Published on 10/26/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.31 million autocallable securities on Dow, Nasdaq, Russell
By Kiku Steinfeld
Chicago, Oct. 26 – Citigroup Global Markets Holdings Inc. priced $1.31 million of 0% autocallable securities due Feb. 26, 2027 linked to the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on Feb. 24, 2023 at par plus 7.5% annually if the worst performing index closes at or above its initial value and on any subsequent quarterly review date.
If the worst performing index finishes at or above its initial value, the payout at maturity will be par plus 37.5%. Investors will receive par if the worst performing index falls but ends at or above the 60% barrier and 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 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: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $1,306,000
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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 worst performing index finishes at or above its initial value, par plus 37.5%; par if worst performing index declines but finishes at or above its 60% barrier; otherwise 1% loss for every 1% that worst performing index declines
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| Call: | Automatically starting on Feb. 24, 2023 at par plus 7.5% annually if the worst performing index closes above its initial value and on any subsequent quarterly review date
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| Initial levels: | 33,131.76 for Dow, 13,509.43 for Nasdaq, 1,944.092 for Russell
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| Final barriers: | 19,879.056 for Dow, 8,105.658 for Nasdaq, 1,166.455 for Russell, 60% 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: | 3.5%
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| Cusip: | 17330A4Q2
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