Published on 4/25/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $332,000 autocallable securities linked to Dow, Nasdaq, Russell
Chicago, April 25 – Citigroup Global Markets Holdings Inc. priced $332,000 of 0% autocallable securities due May 28, 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 26, 2023 with a premium of a 9.5% 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 47.5% 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: | $332,000
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Maturity: | May 28, 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 47.5% 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 26, 2023 with a premium of a 9.5% 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: | 32,120.28 for Dow, 11,943.93 for Nasdaq, 1,799.164 for Russell
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Final barriers: | 22,484.196 for Dow, 8,360.751 for Nasdaq, 1,259.415 for Russell, 70% of initial levels
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Pricing date: | May 25, 2022
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Settlement date: | May 31, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.125%
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Cusip: | 17330FGQ8
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