Published on 8/29/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.86 million autocallable barrier securities on Dow, Russell, S&P
By Kiku Steinfeld
Chicago, Aug. 29 – Citigroup Global Markets Holdings Inc. priced $1.86 million of 0% autocallable barrier securities due Jan. 26, 2027 linked to the performance of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically redeemed at par plus an annualized 7.2% call premium if all indexes finish at or above initial level on any observation date.
If the notes are not called and all indexes finish at or above their initial levels, the payout at maturity will be par plus the return of the least performing index.
If the worst performer declines but finishes at or above 65% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable barrier securities
|
| Underlying indexes: | Dow Jones industrial average, S&P 500 index, Russell 2000 index
|
| Amount: | $1,862,000
|
| Maturity: | Jan. 26, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If all indexes finish positive, par plus return of worst performer; par if at least one index declines but worst performer finishes at or above barrier level; otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level
|
| Call: | At par plus an annualized call premium of 7.2% if each index finishes at or above initial level on any annual observation date
|
| Initial levels: | 34,265.37for Dow, 1,987.918 for Russell, 4,397.94 for S&P;
|
|
|
| Trigger levels: | 22,272.491 for Dow, 1,292.147 for Russell, 2,858.661 for S&P; 65% of initial levels
|
| Pricing date: | Jan. 21
|
| Settlement date: | Jan. 26
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 4.125%
|
| Cusip: | 17330ACB6
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
