Published on 5/17/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $774,000 0% dual directional barrier securities linked to indexes
Chicago, May 17 – Citigroup Global Markets Holdings Inc. priced $774,000 of 0% dual directional barrier securities with autocallable feature due June 26, 2024 linked to the worst performing of the S&P 500 index, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index is above its initial level on June 21, 2023, the notes will be redeemed early at par plus 12.5%.
If the worst performing index gains the payout will be par plus 150% of the worst performing index return.
The payout will be par plus the absolute value of the worst performing index return if the worst performing index declines but ends above the 75% final barrier.
Investors will lose 1% for every 1% that the worst performing index declines if it finishes below the final barrier.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Dual directional barrier securities with autocallable feature
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index and Russell 2000 index
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| Amount: | $774,000
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| Maturity: | June 26, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains par plus 150% of worst performing index return; par plus absolute value of worst performing index return if worst performing index declines but ends above final barrier; 1% loss for every 1% that worst performing index declines if it ends below final barrier
|
| Call: | Par plus 12.5% premium if all three indexes close above their initial levels on June 21, 2023
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| Upside leverage: | 150%
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| Cap: | None
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| Initial levels: | 3,764.79 for S&P, 11,546.76 for Nasdaq, 1,694.031 for Russell
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| Final barriers: | 2,823.593 for S&P, 8,660.07 for Nasdaq, 8,660.07 for Russell, 75% of initial levels
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| Pricing date: | June 21, 2022
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| Settlement date: | June 24, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17330PC23
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