Published on 1/20/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $3.05 million contingent coupon equity linked autocalls on three indexes
New York, Jan. 20 – Citigroup Global Markets Holdings Inc. priced $3.05 million of autocallable contingent coupon equity linked securities due Jan. 21, 2028 linked to the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.3% per year, paid monthly, if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities will be called automatically at par if the closing level of the worst performing index is greater than or equal to its initial level on any monthly valuation date starting July 17, 2023.
If the worst performing index finishes at or above its 70% final barrier, the payout at maturity will be par. Otherwise, investors will lose 1% loss for every 1% that the worst performing index declines.
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, Nasdaq-100 index and Russell 2000 index
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| Amount: | $3,051,000
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| Maturity: | Jan. 21, 2028
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| Coupon: | 7.3% per year, paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above final barrier, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call: | Automatically at par if the closing level of the worst performing index is greater than or equal to its initial level on any monthly valuation date starting July 17, 2023
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| Initial levels: | 33,910.85 for Dow Jones industrial average, 11,557.19 for Nasdaq-100 index, 1,884.286 for Russell 2000 index
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| Coupon barriers: | 23,737.595 for Dow Jones industrial average, 8,090.033 for Nasdaq-100 index, 1,319.000 for Russell 2000 index, 70% of initial levels
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| Final barriers: | 23,737.595 for Dow Jones industrial average, 8,090.033 for Nasdaq-100 index, 1,319.000 for Russell 2000 index, 70% of initial levels
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| Pricing date: | Jan. 17
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| Settlement date: | Jan. 20
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17331CKA4
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