Published on 3/17/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.18 million autocallable barrier securities linked to indexes
By Kiku Steinfeld
Chicago, March 17 – Citigroup Global Markets Holdings Inc. priced $1.18 million of 0% autocallable barrier securities due Dec. 3, 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.
If the worst performing index gains, the payout will be par plus 150% of the worst performing index return. Investors will receive par if the worst performing index declines but ends at or above its 70% final barrier, and they will lose 1% for every 1% that the worst performing index declines if it finishes below the final barrier.
The notes will be called automatically at a premium of 28% if the worst performing index closes above its initial value on Dec. 1, 2023.
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 barrier securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $1,177,000
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| Maturity: | Dec. 3, 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 150% of the worst performing index return; if worst performing index declines but finishes at or above its 70% final barrier, par; 1% loss for every 1% that worst performing index declines if it finishes below its final barrier
|
| Initial levels: | 12,030.06 for Nasdaq, 1,886.577 for Russell, 4,080.11 for S&P
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| Final barriers: | 8,421.042 for Nasdaq, 1,320.604 for Russell, 2,856.077 for S&P, 70% of initial levels
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| Call: | Automatically at a premium of 28% if the worst performing index closes above its initial value on Dec. 1, 2023
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| Upside leverage: | 150%
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| Pricing date: | Nov. 30, 2022
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| Settlement date: | Dec. 5, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17330YFW5
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