Published on 11/27/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $932,000 0% barrier securities linked to Russell, S&P
By Kiku Steinfeld
Chicago, Nov. 28 – Citigroup Global Markets Holdings Inc. priced $932,000 of 0% barrier securities due March 30, 2027 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains, the payout at maturity will be par plus 190% of the worst performing index return subject to a maximum return of par plus 82%. Investors will receive par if the worst performing index declines but ends above the 70% barrier and will lose 1% for every 1% that the worst performing index declines if it finishes below the barrier.
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: | Barrier securities
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $932,000
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Maturity: | March 30, 2027
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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 190% of worst performing index return subject to a maximum return of par plus 82%; par if worst performing index declines but finishes above the 70% barrier; otherwise exposure to decline in worst performing index
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Upside leverage: | 190%
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Cap: | 82%
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Initial levels: | 2,075.443 for Russell, 4,520.16 for S&P
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Final barriers: | 1,452.810 for Russell, 3,164.112 for S&P, 70% of initial level
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Call: | Non-callable
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Pricing date: | March 24
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Settlement date: | March 29
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.125%
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Cusip: | 17330AYR7
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