Published on 3/4/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $264,000 autocallable securities linked to Dow, Russell
By Kiku Steinfeld
Chicago, March 6 – Citigroup Global Markets Holdings Inc. priced $264,000 of 0% autocallable securities due Nov. 26, 2027 linked to the Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on Nov. 24, 2023 with an annual premium of 9.5% if the worst performing index closes at or above its initial value on any quarterly review date.
If the worst performing index gains or finishes flat, the payout at maturity will be par plus 47.5%. If the worst performing index declines by up to 15%, the payout will be par. Otherwise investors will lose 1% for every 1% that the worst performing index declines beyond its buffer.
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 and Russell 2000 index
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| Amount: | $264,000
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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 gains or finishes flat, par plus 47.5% premium for final valuation date; par if worst performing index declines but finishes at or above its 85% buffer level; otherwise, 1% loss for every 1% that worst performing index declines beyond the buffer
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| Call: | Starting Nov. 24, 2023, automatically at par plus premium of 9.5% per year if worst performing index closes at or above initial value and on any quarterly review date
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| Initial levels: | 34,098.10 for Dow, 1,860.441 for Russell
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| Buffer: | 15%
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| Buffer levels: | 28,983.385 for Dow, 1,581.375 for Russell, 85% of initial level
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| Pricing date: | Nov. 22, 2022
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| Settlement date: | Nov. 28, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17330YLU2
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