Published on 3/20/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $500,000 autocallable contingent coupon equity notes on Russell, S&P
Chicago, March 20 – Citigroup Global Markets Holdings Inc. priced $500,000 of autocallable contingent coupon equity linked securities due May 24, 2023 linked to the worst performing of the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.75% paid quarterly if the worst performing index closes at or above its 50% coupon barrier on the related valuation date.
The securities will be called automatically at par starting Aug. 19, 2022 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date.
The payout at maturity will be par if the worst performing index finishes at or above its initial level or the underlying indexes never close below the 50% knock-in value during the life of the note. 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: | Russell 2000 index and S&P 500 index
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| Amount: | $500,000
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| Maturity: | May 24, 2023
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| Coupon: | 6.75% annual rate, paid quarterly if the worst performing index closes at or above its 50% 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 its initial level or underlying indexes never close below knock-in value during life of note; otherwise, 1% loss for every 1% that worst performing index declines
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| Call: | Automatically at par starting Aug. 19, 2022 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date
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| Initial levels: | 1,776.223 for Russell, 3,900.79 for S&P
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| Coupon barriers: | 888.112 for Russell, 1,950.395 for S&P, 50% of initial levels
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| Final barriers: | 888.112 for Russell, 1,950.395 for S&P, 50% of initial levels
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| Pricing date: | May 19, 2022
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| Settlement date: | May 24, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.725%
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| Cusip: | 17330FXD8
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