Published on 6/26/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $327,000 autocallable securities linked to Dow, Russell 2000
New York, June 26 – Citigroup Global Markets Holdings Inc. priced $327,000 of 0% autocallable securities due July 29, 2027 linked to the Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on July 26, 2023 with a premium of a 7.5% annual rate if the worst performing index closes above its initial value and on any subsequent quarterly review date.
If the worst performing index gains or declines by no more than its 15% buffer the payout at maturity will be par plus the premium for the final valuation date. Otherwise investors will lose 1% for every 1% that the worst performing index declines beyond its buffer.
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 indexes: | Dow Jones industrial average and Russell 2000 index
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| Amount: | $327,000
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| Maturity: | July 29, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains, par plus premium for final valuation date; par if worst performing index declines but finishes at or above its 85% buffer; otherwise 1% loss for every 1% that worst performing index declines beyond the buffer
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| Call: | Automatically starting on July 26, 2023 with a premium of a 7.5% annual rate if the worst performing index closes above its initial value and on any subsequent quarterly review date
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| Initial levels: | 31,761.54 for Dow Jones industrial average, 1,805.246 for Russell 2000 index
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| Buffer: | 15%
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| Buffer level: | 26,997.309 for Dow Jones industrial average, 1,534.459 for Russell 2000 index, 85% of initial level
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| Pricing date: | July 26, 2022
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| Settlement date: | July 29, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17330PD97
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