Published on 9/26/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $819,000 8.3% autocallable contingent coupon notes linked to Russell, S&P
New York, Sept. 26 – Citigroup Global Markets Holdings Inc. priced $819,000 of autocallable contingent coupon equity linked securities due Sept. 11, 2023 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.3% paid quarterly if the worst performing index closes at or above its 50% coupon barrier on the related valuation date.
The securities will be called automatically starting Dec. 6, 2022 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date.
The payout at maturity will be par if the worst performing index finishes at or above its initial level or the underlying indexes never close below the 50% knock-in value during the life of the note. Otherwise investors will lose 1% loss for every 1% that the worst performing index declines.
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 contingent coupon equity linked securities
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $819,000
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Maturity: | Sept. 11, 2023
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Coupon: | 8.3% paid quarterly if the worst performing index closes at or above its 50% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | Par if worst performing index finishes at or its initial level or underlying indexes never close below knock-in value during life of note; otherwise 1% loss for every 1% that worst performing index declines
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Call: | Automatically starting Dec. 6, 2022 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date
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Initial levels: | 1,809.748 for Russell 2000 index, 3,924.26 for S&P 500 index
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Coupon barriers: | 904.874 for Russell 2000 index, 1,962.130 for S&P 500 index, 50% of initial levels
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Final barriers: | 904.874 for Russell 2000 index, 1,962.130 for S&P 500 index, 50% of initial levels
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Pricing date: | Sept. 6, 2022
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Settlement date: | Sept. 9, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.725%
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Cusip: | 17330RVH5
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