Published on 10/12/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $734,000 autocallable contingent coupon notes on S&P, Russell, Dow
Chicago, Oct. 12 – Citigroup Global Markets Holdings Inc. priced $734,000 of autocallable contingent coupon equity-linked securities due Oct. 5, 2026 linked to the worst performing of the S&P 500 index, Russell 2000 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.3% paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities will be called automatically at par starting Oct. 2, 2023 if the level of the worst performing index is greater than or equal to its initial level on a monthly valuation date.
If the worst performing index finishes at or above its 70% final barrier the payout at maturity will be par. 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: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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Amount: | $734,000
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Maturity: | Oct. 5, 2026
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Coupon: | 9.3% annual rate, paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above final barrier par; 1% loss for every 1% that worst performing index declines if it ends below final barrier
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Call: | Automatically at par starting Oct. 2, 2023 if the level of the worst performing index is greater than or equal to its initial level on a monthly valuation date
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Initial levels: | 28,725.51 for Dow, 3,585.62 for S&P, 1,664.716 for Russell
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Coupon barrier levels: | 20,107.857 for Dow, 2,509.934 for S&P, 1,165.301 for Russell; 70% of initial levels
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Final barrier levels: | 20,107.857 for Dow, 2,509.934 for S&P, 1,165.301 for Russell; 70% of initial levels
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Pricing date: | Sept. 30, 2022
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Settlement date: | Oct. 5, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2.4%
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Cusip: | 17330RMB8
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