Published on 12/1/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $2.12 million 9% autocallable equity-linked securities on three indexes
By William Gullotti
Buffalo, N.Y., Dec. 1 – Citigroup Global Markets Holdings Inc. priced $2.12 million autocallable equity-linked securities due May 28, 2024 tied to the worst performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable monthly at an annual rate of 9%.
The notes will be automatically called at par plus coupon if each index closes at or above their initial level on any monthly redemption date after six months.
If each index finishes at or above their downside threshold, 70% of initial level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable equity-linked securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $2,115,000
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| Maturity: | May 28, 2024
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| Coupon: | 9%, payable monthly
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, investors will lose 1% for every 1% decline of the lesser-performing index from its initial level
|
| Call: | Automatically at par plus coupon if each index closes at or above initial level on any monthly redemption date after six months
|
| Initial index levels: | 4,003.58 for S&P, 11,724.84 for Nasdaq, 1,860.441 for Russell
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| Downside threshold: | 2,802.506 for S&P, 8,207.388 for Nasdaq, 1,302.309 for Russell; 70% of initial levels
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| Pricing date: | Nov. 22
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| Settlement date: | Nov. 28
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17330YK74
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