Published on 4/24/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $295,000 11.7% autocallable equity-linked notes on Russell, S&P
Chicago, April 24 – Citigroup Global Markets Holdings Inc. priced $295,000 of 11.7% autocallable equity-linked securities due Aug. 28, 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.
Coupons will be paid quarterly.
The securities will be called automatically starting Nov. 23, 2022 at par 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 both indexes close above their initial levels or if neither index ever closes below its 75% knock-in level during the life of the notes. Otherwise, investors will lose 1% 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 equity-linked securities
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $295,000
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| Maturity: | Aug. 28, 2023
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| Coupon: | 11.7% annual rate, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par if both indexes close above initial levels or if neither index closes below knock-in level during life of notes; otherwise, 1% loss for every 1% that worst performing index declines if it ends below knock-in level
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| Call: | Automatically starting Nov. 23, 2022 at par 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: | 1,792.762 for Russell, 3,973.75 for S&P
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| Knock-in levels: | 1,344.572 for Russell, 2,980.313 for S&P, 75% of initial levels
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| Pricing date: | May 23, 2022
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| Settlement date: | May 26, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17330FUX7
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