Published on 7/15/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $500,000 autocallable securities on Russell, Nasdaq, S&P
By Kiku Steinfeld
Chicago, July 15 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% autocallable securities due Dec. 31, 2026 tied to the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each index closes at or above of its initial level on any quarterly valuation date after one year, the notes will be called at par plus an annualized call premium of 6.9%.
If each index finishes at or above its initial level, the payout at maturity will be par plus 34.5%.
If the least performing index finishes below its initial level but not below the buffer level, 80% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index beyond 20%.
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: | Autocallable securities
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, S&P 500 index
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| Amount: | $500,000
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| Maturity: | Dec. 31, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus 34.5%; if the least performing index finishes below its initial level but not below the buffer level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing index beyond 20%.
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| Call: | If each index closes at or above its initial level on any quarterly valuation date after one year, the notes will be called at par plus an annualized call premium of 6.9%
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| Initial levels: | 2,246.505 for Russell, 4,786.35 for S&P, 16,488.66 for Nasdaq
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| Coupon barrier levels: | 1,797.204 for Russell, 3,829.08 for S&P, 13,190.928 for Nasdaq; 80% of initial levels
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| Buffer levels: | 1,797.204 for Russell, 3,829.08 for S&P, 13,190.928 for Nasdaq; 80% of initial levels
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| Pricing date: | Dec. 28
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| Settlement date: | Dec. 31
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17329UPW5
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