Published on 11/14/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.15 million autocallable securities linked to Dow, Russell, S&P
By Kiku Steinfeld
Chicago, Nov. 14 – Citigroup Global Markets Holdings Inc. priced $1.15 million of 0% autocallable securities due March 18, 2027 linked to the Dow Jones industrial average, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on March 15, 2023 with a 9% annual rate if the worst performing index closes above its initial value and on any subsequent annual review date.
If the worst performing index gains, the payout at maturity will be par plus 45%. Investors will receive par if the worst performing index but ends 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 agent.
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, Russell 2000 index and S&P 500 index
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Amount: | $1,145,000
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Maturity: | March 18, 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 45%; 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 March 15, 2023 with 9% annual rate if the worst performing index closes above its initial value and on any subsequent annual review date
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Initial levels: | 33,544.34 for Dow, 1,968.969 for Russell, 4,262.45 for S&P
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Final barriers: | 20,126.604 for Dow, 1,181.381 for Russell, 2,557.470 for S&P, 60% of initial level
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Pricing date: | March 15
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Settlement date: | March 18
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.5%
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Cusip: | 17330AUG5
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