Published on 3/3/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $635,000 autocallable securities linked to Dow, Nasdaq, Russell
Chicago, March 3 – Citigroup Global Markets Holdings Inc. priced $635,000 of 0% autocallable securities due May 17, 2027 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 15, 2023 with a premium of a 10.75% annual rate if the worst performing index closes above its initial value and on any subsequent annual review date.
If the worst performing index gains the payout at maturity will be par plus the 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: | $635,000
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| Maturity: | May 17, 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 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 15, 2023 with a premium of a 10.75% annual rate if the worst performing index closes above its initial value and on any subsequent annual review date
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| Initial levels: | 31,730.30 for Dow, 11,945.50 for Nasdaq, 1,739.382 for Russell
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| Final barriers: | 22,211.210 for Dow, 8,361.850 for Nasdaq, 1,217.567 for Russell, 70% of initial levels
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| Pricing date: | May 12, 2022
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| Settlement date: | May 17, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17330FAD3
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