Published on 6/27/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $500,000 autocallable securities on S&P, Russell, Stoxx
By Kiku Steinfeld
Chicago, June 27 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% autocallable securities due Dec. 19, 2024 tied to the worst performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each index closes at or above of its initial level on any quarterly valuation date after one year, the notes will be called at par plus a premium of 8.5% a year.
If each index finishes at or above its initial level, the payout at maturity will be par plus 25.5%.
If the least performing index finishes below its initial level but not below the barrier level, 70% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
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: | Autocallable securities
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| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50 index
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| Amount: | $500,000
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| Maturity: | Dec. 19, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus 25.5%; if the least performing index finishes below its initial level but not below the barrier level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level
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| Call: | If each index closes at or above its initial level quarterly valuation date after one year, the notes will be called at par plus a premium of 8.5% a year
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| Initial levels: | 4,144.51 for Stoxx, 2,159.650 for Russell, 4,144.51 for S&P
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| Barriers: | 2,901.157 for Stoxx, 1,511.755 for Russell, 3,243.863 for S&P; 70% of initial levels
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| Pricing date: | Dec. 15, 2021
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| Settlement date: | Dec. 20, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17329UTQ4
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