Published on 5/18/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $565,000 autocallable securities tied to Dow, Russell, S&P
Chicago, May 18 – Citigroup Global Markets Holdings Inc. priced $565,000 of 0% autocallable securities due July 1, 2027 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.
The securities will be called automatically starting after one year with a premium of a 6% annual rate if the worst performing index closes above 90% of its initial value and on any subsequent quarterly review date.
If the worst performing index finishes above the 90% autocall barrier level, the payout at maturity will be par plus the 30% premium for the final valuation date. Investors will receive par if the worst performing index falls more than 10% but ends above the 65% barrier and lose 1% for every 1% that the worst performing index declines if it finishes below its 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: | Autocallable securities
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $565,000
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| Maturity: | July 1, 2027
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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 autocall barrier, par plus 30% premium for final valuation date; par if worst performing index declines more than 10% but finishes at or above its 65% barrier; otherwise, 1% loss for every 1% that worst performing index declines
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| Call: | Automatically starting after one year with a premium of a 6% annual rate if the worst performing index closes above 90% of its initial value and on any subsequent quarterly review date
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| Initial levels: | 31,438.26 for Dow, 1,771.742 for Russell, 3,900.11 for S&P
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| Autocall barrier levels: | 28,294.434 for Dow, 1,594.568 for Russell, 3,510.099 for S&P, 90% of initial levels
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| Final barriers: | 20,434.869 for Dow, 1,151.632 for Russell, 2,535.072 for S&P, 65% of initial levels
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| Pricing date: | June 27, 2022
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| Settlement date: | June 30, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17330PBN8
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