Published on 3/1/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $788,000 autocallable securities linked to Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, March 1 – Citigroup Global Markets Holdings Inc. priced $788,000 of 0% autocallable securities due Nov. 26, 2027 linked to the Nasdaq-100 index, 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 starting on Nov. 21, 2023 at par plus a 12.85% annual rate if the worst performing index closes at or above its initial value and on any subsequent annual review date.
If the worst performing index falls flat or gains, the payout at maturity will be par plus 64.25%. Investors will receive par if the worst performing index but ends above the 65% 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $788,000
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Maturity: | Nov. 26, 2027
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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 64.25%; par if worst performing index declines but finishes at or above its 65% barrier; otherwise 1% loss for every 1% that worst performing index declines
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Call: | Automatically starting on Nov. 21, 2023 at par plus 12.85% annual rate if the worst performing index closes at or above its initial value and on any subsequent annual review date
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Initial levels: | 11,553.45 for Nasdaq, 1,839.141 for Russell, 3,949.94 for S&P
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Final barriers: | 7,509.743 for Nasdaq, 1,195.442 for Russell, 2,567.461 for S&P, 65% of initial level
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Pricing date: | Nov. 21, 2022
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Settlement date: | Nov. 25, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.125%
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Cusip: | 17330YDS6
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