Published on 11/23/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.54 million autocallable contingent coupon market-linked notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Nov. 23 – Citigroup Global Markets Holdings Inc. priced $2.54 million of market-linked securities — autocallable with contingent coupon and contingent downside due Oct. 27, 2023 linked to the Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annualized coupon of 12.35% paid monthly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date.
The securities will be called automatically starting April 27, 2023 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date.
The payout at maturity will be par plus any contingent coupon.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. and Wells Fargo Securities 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: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $2.54 million
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| Maturity: | Oct. 27, 2023
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| Coupon: | 12.35% paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | Par plus any contingent coupon
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| Call: | Automatically starting April 27, 2023 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date
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| Initial levels: | 11,405.57 for Nasdaq-100 index, 1,846.863 for Russell 2000 index, 32,732.95for Dow Jones
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| Coupon barriers: | 8,554.1775 for Nasdaq-100 index, 1,385.14725 for Russell 2000 index, 24,549.7125 for Dow Jones, 75% of initial levels
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| Pricing date: | Oct. 31
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| Settlement date: | Nov. 3
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| Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities
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| Fees: | 1.375%
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| Cusip: | 17330RVD4
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