Published on 3/11/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $573,000 11.35% autocallable contingent coupon notes on three indexes
By Kiku Steinfeld
Chicago, March 13 – Citigroup Global Markets Holdings Inc. priced $573,000 of autocallable contingent coupon equity linked securities due Dec. 2, 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.
Investors will receive a coupon of 11.35% paid monthly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date.
The securities will be called automatically starting Nov. 29, 2024 at par if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date.
If the worst performing index finishes at or above its 80% 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $573,000
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Maturity: | Dec. 2, 2027
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Coupon: | 11.35% paid monthly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | 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 starting Nov. 29, 2024 at par if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date
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Initial levels: | 11,587.75 for Nasdaq, 1,830.964 for Russell, 3,963.94 for S&P
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Coupon barriers: | 9,270.200 for Nasdaq, 1,464.771 for Russell, 3,171.152 for S&P, 80% of initial levels
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Final barriers: | 9,270.200 for Nasdaq, 1,464.771 for Russell, 3,171.152 for S&P, 80% of initial levels
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Pricing date: | Nov. 28, 2022
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Settlement date: | Dec. 1, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.1%
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Cusip: | 17330YP79
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