Published on 12/11/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $656,000 autocallable securities linked to Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, Dec. 12 – Citigroup Global Markets Holdings Inc. priced $656,000 of 0% autocallable securities due April 15, 2027 linked to the Nasdaq-100 index, 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 April 13, 2023 at par plus 9.5% annualized if the worst performing index closes above its initial value and on any subsequent semiannual review date.
If the worst performing index gains, the payout at maturity will be par plus 47.5%. Investors will receive par if the worst performing index but ends above the 70% 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.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $656,000
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| Maturity: | April 15, 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 47.5%; par if worst performing index declines but finishes at or above its 70% barrier; otherwise 1% loss for every 1% that worst performing index declines
|
| Call: | Automatically starting on April 13, 2023 at par plus 9.5% annual rate if the worst performing index closes above its initial value and on any subsequent semiannual review date
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| Initial levels: | 13,990.21 for Nasdaq, 1,980.324 for Russell, 4,412.53 for S&P
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| Final barriers: | 9,793.147 for Nasdaq, 1,386.227 for Russell, 3,088.771 for S&P, 70% of initial level
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| Pricing date: | April 11
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| Settlement date: | April 14
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17330FG88
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