Published on 1/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.05 million autocallable buffer securities linked to Russell, S&P
New York, Jan. 10 – Citigroup Global Markets Holdings Inc. priced $1.05 million of 0% autocallable buffer securities due Dec. 28, 2026 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus a 13.4% annualized call premium if each index closes at or above its initial level on any quarterly valuation date after one year.
If the worst performing index gains, the payout will be par plus 150% of its return.
Investors will receive par if the worst performing index declines by no more than 20% and will lose 1% for every 1% that the worst performing index declines beyond 20%.
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 buffer securities
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $1.05 million
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| Maturity: | Dec. 28, 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 150% of its return; par if worst performing index declines by no more than 20%; otherwise, 1% loss for every 1% that worst performing index declines beyond 20%
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| Call: | Automatically at par plus a 13.4% annualized call premium if each index closes at or above its initial level on any quarterly valuation date after one year
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| Initial levels: | 1,754.086 for Russell 2000 index, 3,822.39 for S&P 500 index
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| Upside leverage: | 150%
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| Buffer: | 20%
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| Buffer levels: | 1,403.269 for Russell 2000 index, 3,057.912 for S&P 500 index, 80% of initial level
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| Pricing date: | Dec. 22
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| Settlement date: | Dec. 28
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
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| Cusip: | 17330YYD6
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