Published on 3/14/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $382,000 autocallable securities linked to basket
By Kiku Steinfeld
Chicago, March 14 – Citigroup Global Markets Holdings Inc. priced $382,000 of 0% autocallable securities due Dec. 21, 2026 linked to an equally weighted basket consisting of the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically on Nov. 29, 2023 with a premium of 15.35% if the basket closes above its initial value.
If the basket gains, the payout at maturity will be par plus 150% of the basket return. If the basket finishes at or above its 65% trigger level, the payout will be par. Otherwise investors lose 1% for every 1% that the basket 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 securities
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| Underlying components: | S&P 500 index, Russell 2000 index and iShares MSCI EAFE ETF; equally weighted
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| Amount: | $382,000
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| Maturity: | Dec. 21, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket finishes at or above its initial value, par plus 150% of basket return; basket finishes at or above its 65% trigger level, par; otherwise 1% loss for every 1% that basket declines
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| Call: | Automatically on Nov. 29, 2023 with a premium of a 15.35% if the basket closes above its initial value
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| Initial level: | $65.95 for iShares, 3,957.63 for S&P, 1,836.551 for Russell
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| Trigger level: | 65% of initial level
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| Pricing date: | Nov. 29, 2022
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| Settlement date: | Dec. 2, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17330YEA4
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