Published on 8/16/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $603,000 autocallable securities linked to Dow, Russell, S&P
Chicago, Aug. 16 – Citigroup Global Markets Holdings Inc. priced $603,000 of 0% autocallable securities due July 23, 2026 linked to the worst performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus a 15.35% annualized call premium if the worst performing index closes at or above its initial value on any semiannual review date starting after one year.
If the worst performing index finishes at or above its initial value, the payout at maturity will be par plus the 61.4% premium for the final valuation date.
Investors will receive par if the worst performing index declines but ends at or above the 90% buffer value and lose 1% for every 1% that the worst performing index declines beyond the 10% buffer.
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, Russell 2000 index and S&P 500 index
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| Amount: | $603,000
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| Maturity: | July 23, 2026
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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 61.4% premium for final valuation date; par if worst performing index declines but finishes at or above its 90% buffer level; otherwise, 1% loss for every 1% that worst performing index declines beyond 10% buffer
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| Call: | Automatically at par plus a 15.35% annualized call premium if the worst performing index closes at or above its initial value on any semiannual review date starting after one year
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| Initial levels: | 31,827.05 for Dow, 1,799.324 for Russell, 3,936.69 for S&P
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| Final buffer levels: | 28,644.345 for Dow, 1,619.392 for Russell, 3,543.021 for S&P; 90% of initial levels
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| Pricing date: | July 19, 2022
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| Settlement date: | July 22, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17330PS67
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