Published on 11/29/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $533,000 10.25% autocallable equity notes on Russell, S&P
By Kiku Steinfeld
Chicago, Nov. 29 – Citigroup Global Markets Holdings Inc. priced $533,000 of 10.25% autocallable equity linked securities due June 29, 2023 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par if the closing level of the worst performing index is greater than or equal to its initial level on Sept. 26, 2022, Dec. 27, 2022 or March 27, 2023.
The payout at maturity will be par unless the worst performing index ends below its initial level and either index closes below its 75% barrier level during the life of the notes, in which case investors will lose 1% for every 1% that the worst performing index declines.
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 equity linked securities
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $533,000
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| Maturity: | June 29, 2023
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| Coupon: | 10.25%
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| Price: | Par
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| Payout at maturity: | Par unless worst performing index ends below initial level and either index closes below barrier level during life of notes, in which case 1% loss for every 1% that worst performing index declines
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| Call: | Automatically at par if closing level of worst performing index is greater than or equal to initial level on Sept. 26, 2022, Dec. 27, 2022 or March 27, 2023
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| Initial levels: | 2,077.983 for Russell, 4,543.06 for S&P
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| Barrier levels: | 1,558.487 for Russell, 3,407.295 for S&P; 75% of initial levels
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| Pricing date: | March 25
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| Settlement date: | March 30
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17330AYH9
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