Published on 8/17/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $125,000 autocallable contingent coupon notes on indexes
Chicago, Aug. 17 – Citigroup Global Markets Holdings Inc. priced $125,000 of autocallable contingent coupon equity-linked securities due July 31, 2025 linked to the worst performing of the Dow Jones industrial average, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 5.5% paid quarterly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities will be called automatically starting July 26, 2023 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date.
If the worst performing index finishes at or above its 85% final buffer level the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing index declines beyond the 15% 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 contingent coupon equity-linked securities
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $125,000
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| Maturity: | July 31, 2025
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| Coupon: | 5.5% annual rate, paid quarterly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above final buffer level, par; 1% loss for every 1% that worst performing index declines beyond 15% buffer
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| Call: | Automatically starting July 26, 2023 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: | 31,761.54 for Dow, 1,805.246 for Russell, 3,921.05 for S&P
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| Coupon barriers: | 22,233.078 for Dow, 1,263.672 for Russell, 2,744.735 for S&P, 70% of initial levels
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| Final buffer levels: | 26,997.309 for Dow, 1,534.459 for Russell, 3,332.893 for S&P, 85% of initial levels
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| Pricing date: | July 26, 2022
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| Settlement date: | July 29, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17330PJG5
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