Published on 1/30/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.1 million autocallable securities linked to Dow, Nasdaq, Russell
Chicago, Jan. 30 – Citigroup Global Markets Holdings Inc. priced $1.1 million of 0% autocallable securities due May 2, 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.
The securities will be called automatically starting on May 2, 2023 with a premium of a 15% annual rate if the worst performing index closes above its initial value and on any subsequent semiannual review date.
If the worst performing index gains the payout at maturity will be par plus the 45% premium for the final valuation date. Investors will receive par if the worst performing index but ends above the 70% barrier and lose 1% for every 1% that the worst performing index declines if it finishes below its barrier.
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 securities
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $1,098,000
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| Maturity: | May 2, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its initial value, par plus 45% premium for final valuation date; par if worst performing index declines but finishes at or above its 70% barrier; otherwise 1% loss for every 1% that worst performing index declines
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| Call: | Automatically starting on May 2, 2023 with a premium of a 15% annual rate if the worst performing index closes above its initial value and on any subsequent semiannual review date
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| Initial levels: | 32,977.21 for Dow, 12,854.80 for Nasdaq, 1,864.103 for Russell
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| Final barriers: | 23,084.047 for Dow, 8,998.360 for Nasdaq, 1,304.872 for Russell, 70% of initial levels
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| Pricing date: | April 29, 2022
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| Settlement date: | May 4, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17330FJM4
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