Published on 11/21/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.29 million autocallable securities linked to Dow, Russell
New York, Nov. 21 – Citigroup Global Markets Holdings Inc. priced $1.29 million of 0% autocallable securities due Sept. 30, 2027 linked to the Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on Sept. 27, 2023 with a premium of a 7.25% annual rate if the worst performing index closes above its initial value on any quarterly review date.
If the worst performing index gains or declines by no more than its 10% buffer the payout at maturity will be par plus the premium for the final valuation date. Otherwise investors will lose 1% for every 1% that the worst performing index declines beyond its 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 securities
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| Underlying indexes: | Dow Jones industrial average and Russell 2000 index
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| Amount: | $1.29 million
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| Maturity: | Sept. 30, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains or declines by no more than its 10% buffer, par plus premium for final valuation date; par if worst performing index declines but finishes at or above its 90% buffer; otherwise 1% loss for every 1% that worst performing index declines beyond the buffer
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| Call: | Automatically starting on Sept. 27, 2023 with a premium of a 7.25% annual rate if the worst performing index closes above its initial value on any quarterly review date
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| Initial levels: | 29,134.99 for Dow Jones industrial average, 1,662.509 for Russell 2000 index
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| Buffer: | 10%
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| Buffer levels: | 26,221.491 for Dow Jones industrial average, 1,496.258 for Russell 2000 index, 90% of initial levels
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| Pricing date: | Sept. 27
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| Settlement date: | Sept. 30
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17330R7C3
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