Published on 8/24/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $177,000 of market-linked securities on Nasdaq, Russell, S&P
Chicago, Aug. 24 – Citigroup Global Markets Holdings Inc. priced $177,000 of market-linked securities – autocallable with contingent coupon and contingent downside due July 24, 2023 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a 9.25% coupon payable quarterly when all three indexes close above their 75% coupon barrier on a related observation date.
The notes will be redeemed early at par if all three indexes close above their initial levels on any quarterly valuation date starting after six months.
If all three indexes close above their 75% final barrier level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the losses of the worst performer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Market-linked securities – autocallable with contingent coupon and contingent downside
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $177,000
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| Maturity: | July 24, 2023
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| Coupon: | 9.25% annual rate, payable quarterly when all three indexes close above coupon barrier level on related observation date
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| Price: | Par
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| Payout at maturity: | Par if all three indexes close above final barrier level; otherwise, full exposure to decline of worst performer from its initial level
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| Call: | Automatically at par if all three indexes close above their initial levels on any quarterly valuation date starting after six months
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| Initial levels: | 4,532.76 for S&P, 2,062.783 for Russell, 15,047.84 for Nasdaq
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| Coupon barrier levels: | 3,399.57 for S&P, 1,547.08725 for Russell, 11,285.88 for Nasdaq; 75% of initial levels
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| Final barrier levels: | 3,399.57 for S&P, 1,547.08725 for Russell, 11,285.88 for Nasdaq; 75% of initial levels
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 24
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| Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities, LLC
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| Fees: | 1.625%
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| Cusip: | 17329UQB0
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