Published on 12/2/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $325,000 6.5% autocallable contingent coupon equity notes on indexes
Chicago, Dec. 2 – Citigroup Global Markets Holdings Inc. priced $325,000 of autocallable contingent coupon equity-linked securities due March 23, 2027 linked to the worst performing of the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.5% if the worst performing index closes at or above its 50% coupon barrier on the related annual valuation date.
The securities will be called automatically if the price of the worst performing index is greater than or equal to its initial price after one year and on any subsequent annual determination date.
If all three indexes close above their initial levels, the payout at maturity will be par plus 10%.
If the worst performing index finishes at or above its 50% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing index declines.
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 contingent coupon equity-linked securities
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Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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Amount: | $325,000
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Maturity: | March 23, 2027
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Coupon: | 6.5% annual rate, payable annually if the worst performing index closes at or above its 50% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | Par plus 10% if all indexes close above initial levels; if worst performing index finishes at or above final barrier par; 1% loss for every 1% that worst performing index declines if it ends below final barrier
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Call: | Automatically if the price of the worst performing index is greater than or equal to its initial price and on any subsequent determination date
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Initial levels: | 34,754.93 for Dow, 14,420.08 for Nasdaq, 2,086.143 for Russell
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Coupon barriers: | 17,377.465 for Dow, 7,210.040 for Nasdaq, 1,043.072 for Russell, 50% of initial levels
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Final barriers: | 17,377.465 for Dow, 7,210.040 for Nasdaq, 1,043.072 for Russell, 50% of initial levels
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Pricing date: | March 18
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Settlement date: | March 23
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.6%
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Cusip: | 17330ART1
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