Published on 9/13/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.49 million autocallable securities on S&P, Russell, Dow
Chicago, Sept. 13 – Citigroup Global Markets Holdings Inc. priced $1.49 million of 0% autocallable securities due Aug. 31, 2027 tied to the worst performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If each index closes at or above its initial level on any annual valuation date, the notes will be called at par plus an annual premium of 11%.
If each index finishes at or above 90% of its initial level, the payout at maturity will be par plus 55%.
If the least performing index finishes below its call level but not below the barrier level, 75% 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.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $1,489,000
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| Maturity: | Aug. 31, 2027
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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 call level, par plus 55%; if the least performing index finishes below its call 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
|
| Call: | If each index closes at or above its initial level on any annual valuation date, the notes will be called at par plus an annual premium of 11%
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| Initial levels: | 32,283.40 for Dow, 1,899.83 for Russell, 4,057.66 for S&P
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| Barrier levels: | 24,212.55 for Dow, 1,424.873 for Russell, 3,043.245 for S&P; 75% of initial levels
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| Pricing date: | Aug. 26
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| Settlement date: | Aug. 31
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.1%
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| Cusip: | 17330PH85
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