Published on 11/14/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.47 million autocallable securities on S&P 500, SPDR ETF
By William Gullotti
Buffalo, N.Y., Nov. 14 – Citigroup Global Markets Holdings Inc. priced $2.47 million of 0% autocallable securities due Sept. 30, 2026 tied to the SPDR S&P Oil & Gas Exploration & Production ETF 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 underlier closes at or above call level, 90% of its initial level, on any annual valuation date, the notes will be called at par plus an annualized call premium of 26%.
If each underlier finishes at or above its call level, the payout at maturity will be par plus 104%.
If the least performing underlier finishes below its call level but not below the barrier level, 60% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying assets: | SPDR S&P Oil & Gas Exploration & Production ETF, S&P 500 index
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| Amount: | $2,467,000
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| Maturity: | Sept. 30, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each underlier finishes at or above its call level, par plus 104%; if the least performing underlier finishes below its call level but not below the barrier level, par; otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level
|
| Call: | If each underlier closes at or above call level, 90% of its initial level, on any annual valuation date, the notes will be called at par plus an annualized call premium of 26%
|
| Initial levels: | $118.61 for ETF, 3,693.23 for S&P
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| Call levels: | $106.749 for ETF, 3,323.907 for S&P; 90% of initial levels
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| Barrier levels: | $71.166 for ETF, 2,215.938 for S&P; 60% of initial levels
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| Pricing date: | Sept. 23
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| Settlement date: | Sept. 30
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4.125%
|
| Cusip: | 17330RWC5
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