Published on 8/29/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $501,000 8.75% autocallable contingent coupon equity notes on indexes
Chicago, Aug. 29 – Citigroup Global Markets Holdings Inc. priced $501,000 of autocallable contingent coupon equity-linked securities due Aug. 20, 2027 linked to the worst performing of the Dow Jones industrial average and S&P 500 Dynamic Participation index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.75% paid monthly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date.
The securities will be called automatically at par starting Aug. 18, 2023 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date.
The payout at maturity will be par if the worst performing index gains or declines by no more than its 15% buffer. Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond the 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 contingent coupon equity-linked securities
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| Underlying indexes: | Dow Jones industrial average and S&P 500 Dynamic Participation index
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| Amount: | $501,000
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| Maturity: | Aug. 20, 2027
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| Coupon: | 8.75% annual rate, paid monthly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing index gains or declines by no more than 15% buffer par; 1% loss for every 1% that worst performing index declines beyond buffer
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| Call: | Automatically starting Aug. 18, 2023 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: | 33,980.32 for Dow, 649.22 for Dynamic
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| Coupon barriers: | 25,485.240 for Dow, 486.915 for Dynamic, 75% of initial levels
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| Buffer levels: | 28,883.272 for Dow, 551.837 for Dynamic, 85% of initial levels
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| Buffer: | 15%
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| Pricing date: | Aug. 17, 2022
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| Settlement date: | Aug. 22, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.65%
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| Cusip: | 17330R4E2
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