Published on 4/27/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $500,000 barrier securities on performance-allocation basket
Chicago, April 27 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% barrier securities due June 1, 2027 linked to performance-allocation basket of three indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Nasdaq-100 index, the Euro Stoxx 50 index and the Russell 2000 index. The index with the highest return will be weighted 40%, the second highest index will be allocated 35% and the lowest will be allocated 25% in the basket.
The notes will be guaranteed by Citigroup Inc.
If the basket finishes at or above its initial level, payout will be par plus 1.155 times the return of the basket.
If the basket finishes below its initial level but at or above its final barrier level, 70% of its initial level, the payout at maturity will be par.
Otherwise, investors will lose 1% for each 1% decline of the basket from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Barrier securities
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| Underlying basket: | Nasdaq-100 index, Euro Stoxx 50 index and Russell 2000 index; allocated based on best-to-worst performance at 40%, 35% and 25%
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| Amount: | $500,000
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| Maturity: | June 1, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the basket finishes above initial level, par plus 1.155 times the gain of the basket; if the basket finishes below its initial level but at or above its final barrier level, par; otherwise, 1% loss for each 1% decline of the basket from its initial level
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| Initial levels: | 12,276.79 for Nasdaq, 3,740.31 for Stoxx, 1,838.238 for Russell
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| Final barrier level: | 70% of initial level
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| Pricing date: | May 26, 2022
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| Settlement date: | June 1, 2022
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17330FNK3
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