Published on 1/23/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $295,000 autocallable equity linked securities on Russell, S&P
Chicago, Jan. 23 – Citigroup Global Markets Holdings Inc. priced $295,000 of 10.6% autocallable equity linked securities due July 27, 2023 linked to the worst performing of the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Coupons will be paid quarterly.
The securities will be called automatically starting Oct. 24, 2022 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date.
The payout at maturity will be par if both indexes close above their initial levels or if neither index closes below its 75% knock-in level during the life of the notes. Otherwise, investors will lose 1% 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 equity linked securities
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $295,000
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| Maturity: | July 27, 2023
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| Coupon: | 10.6%
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| Price: | Par
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| Payout at maturity: | Par if both indexes close above initial level or if neither index never closes below knock-in level during life of notes; otherwise, 1% loss for every 1% that worst performing index declines if it ends below final barrier
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| Call: | Automatically at par starting Oct. 24, 2022 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date
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| Initial levels: | 1,940.665 for Russell, 4,271.78 for S&P
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| Final barriers: | 1,455.499 for Russell, 3,203.835 for S&P, 75% of initial levels
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| Pricing date: | April 22, 2022
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| Settlement date: | April 27, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17330FHF1
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