Published on 9/26/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.03 million autocallable contingent coupon market-linked notes on two indexes
By William Gullotti
Buffalo, N.Y., Sept. 26 – Citigroup Global Markets Holdings Inc. priced $1.03 million of 0% autocallable contingent coupon market-linked notes due Aug. 31, 2029 linked to the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Investors will receive a contingent monthly coupon at a 5.25% annual rate if each index closes at or above its 80% coupon barrier on the relevant observation date.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any quarterly valuation date after one year.
If the notes have not been called and each index finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon. Otherwise, the payout will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon market-linked notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index
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| Amount: | $1,027,000
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| Maturity: | Aug. 31, 2029
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| Coupon: | 5.25% per year, payable monthly if each index closes at or above its coupon barrier on the corresponding observation date
|
| Price: | Par
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| Payout at maturity: | If each index finishes at or above coupon barrier, par plus final coupon; otherwise, par
|
| Call: | Automatically at par plus the coupon if each index closes at or above its initial level on any quarterly valuation date after one year
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| Initial levels: | 1,899.83 for Russell, 12,605.17 for Nasdaq
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| Coupon barriers: | 1,519.864 for Russell, 10,084.136 for Nasdaq; 80% 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.
|
| Fees: | 3.8%
|
| Cusip: | 17330PZZ5
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