Published on 10/28/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $956,000 autocallable barrier securities on Nasdaq, Russell, S&P
Chicago, Oct. 28 – Citigroup Global Markets Holdings Inc. priced $956,000 of 0% autocallable barrier securities due March 4, 2024 linked to the worst performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically redeemed at par plus a 13% call premium if all indexes close at or above their initial level on March 1, 2023
If the notes are not called and all indexes finish at or above their initial levels, the payout at maturity will be par plus 250% of the return of the least performing index.
If the worst performer declines but finishes at or above 70% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
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 barrier securities
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| Underlying indexes: | Nasdaq-100 index, S&P 500 index, Russell 2000 index
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| Amount: | $956,000
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| Maturity: | March 4, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all indexes finish positive, par plus 250% of return of worst performer; par if at least one index declines but worst performer finishes at or above barrier level; otherwise, investors will lose 1% for each 1% decline from the initial level of the worst performing index
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| Call: | At par plus a call premium of 13% if each index closes at or above initial level on March 1, 2023
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| Initial levels: | 14,237.81 for Nasdaq, 4,373.94 for S&P, 2,048.089 for Russell
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| Trigger levels: | 9,966.467 for Nasdaq, 3,061.758 for S&P, 1,433.662 for Russell; 70% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 3
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.85%
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| Cusip: | 17330A3R1
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