Published on 10/2/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $864,000 autocallable contingent coupon market-linked notes on indexes
Chicago, Oct. 2 – Citigroup Global Markets Holdings Inc. priced $864,000 of autocallable contingent coupon equity-linked securities due Oct. 2, 2025 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.5% paid quarterly if the worst performing index closes at or above its 65% coupon barrier on the related valuation date.
The securities will be called automatically at par starting March 27, 2023 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date.
The payout at maturity will be par plus the contingent coupon if all three indexes close above the 65% final barrier values.
Otherwise, investors will be fully exposed to the losses of the worst performer.
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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $864,000
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| Maturity: | Oct. 2, 2025
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| Coupon: | 7.5% annual rate, paid quarterly if the worst performing index closes at or above its 65% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if all three indexes close above final barrier values; otherwise, full exposure to losses of worst performer
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| Call: | Automatically at par starting March 27, 2023 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date
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| Initial levels: | 11,271.75 for Nasdaq, 1,662.509 for Russell, 3,647.29 for S&P
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| Coupon barriers: | 7,326.638 for Nasdaq, 1,080.631 for Russell, 2,370.739 for S&P, 65% of initial levels
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| Final barrier values: | 7,326.638 for Nasdaq, 1,080.631 for Russell, 2,370.739 for S&P, 65% of initial levels
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| Pricing date: | Sept. 27, 2022
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| Settlement date: | Sept. 30, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17330RED3
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