Published on 1/23/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $580,000 autocallable contingent coupon equity notes on indexes
Chicago, Jan. 23 – Citigroup Global Markets Holdings Inc. priced $580,000 of autocallable contingent coupon equity-linked securities due April 29, 2025 linked to the worst performing of the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.75% if the worst performing index closes at or above its 60% coupon barrier on the related quarterly valuation date.
The securities will be called automatically if the price of the worst performing index is greater than or equal to its initial price after six months and on any subsequent quarterly determination date.
If the worst performing index finishes at or above its 60% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss 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 contingent coupon equity-linked securities
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $580,000
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| Maturity: | April 29, 2025
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| Coupon: | 6.75% annual rate, payable quarterly if the worst performing index closes at or above its 60% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | Par if worst performing index finishes at or above final barrier; otherwise, 1% loss for every 1% that worst performing index declines if it ends below final barrier
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| Call: | Automatically at par if the price of the worst performing index is greater than or equal to its initial price after six months and on any quarterly determination date
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| Initial levels: | 33,811.40 for Dow, 13,356.87 for Nasdaq, 1,940.665 for Russell
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| Coupon barriers: | 20,286.84 for Dow, 8,014.122 for Nasdaq, 1,164.399 for Russell, 60% of initial levels
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| Final barriers: | 20,286.84 for Dow, 8,014.122 for Nasdaq, 1,164.399 for Russell, 60% of initial levels
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| Pricing date: | April 22, 2022
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| Settlement date: | April 29, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17330F5W7
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