Published on 4/24/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $907,000 barrier digital plus notes linked to Dow, Nasdaq, S&P 500
By Angela McDaniels
Tacoma, Wash., April 24 – Citigroup Global Markets Holdings Inc. priced $907,000 of 0% barrier digital plus securities due June 4, 2026 linked to the Dow Jones industrial average, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index’s final level is greater than or equal to its initial level, the payout at maturity will be par plus the greater of 46.75% and the worst performing index’s return.
If the worst performing index’s final level is less than its initial level but greater than or equal to its final barrier value, 75% of its initial level, the payout will be par.
If the worst performing index’s final level is less than its final barrier value, investors will be exposed to that index’s decline from its initial level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Barrier digital plus securities
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and S&P 500 index
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| Amount: | $907,000
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| Maturity: | June 4, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index’s final level is greater than or equal to initial level, par plus greater of 46.75% and worst performing index’s return; if worst performing index’s final level is less than initial level but greater than or equal to final barrier value, par; otherwise, exposure to that worst performing index’s decline from initial level
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| Initial levels: | 32,990.12 for Dow, 12,642.10 for Nasdaq and 4,132.15 for S&P
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| Final barrier levels: | 24,742.590 for Dow, 9,481.575 for Nasdaq and 3,099.113 for S&P, or 75% of initial levels
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| Pricing date: | May 31, 2022
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| Settlement date: | June 3, 2022
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.6%
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| Cusip: | 17330FLB5
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