Published on 9/21/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.2 million 8% autocallable contingent coupon equity-linked notes on indexes
Chicago, Sept. 21 – Citigroup Global Markets Holdings Inc. priced $1.2 million of autocallable contingent coupon equity-linked securities due June 15, 2023 linked to the worst performing of the Dow Jones industrial average and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8% if the worst performing index closes at or above its 70% coupon barrier on the monthly related valuation date.
The securities will be called automatically starting March 13, 2023 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly determination date.
The payout at maturity will be par if the worst performing index ends at or above its 70% final barrier. Otherwise, investors will lose 1% 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: | Dow Jones industrial average and S&P 500 index
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| Amount: | $1,197,000
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| Maturity: | June 15, 2023
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| Coupon: | 8% annual rate, payable 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 starting March 13, 2023 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly determination date
|
| Initial levels: | 32,381.34 for Dow, 4,110.41 for S&P
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| Coupon barriers: | 22,666.938 for Dow, 2,877.287 for S&P, 70% of initial levels
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| Final barriers: | 22,666.938 for Dow, 2,877.287 for S&P, 70% of initial levels
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| Pricing date: | Sept. 12
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| Settlement date: | Sept. 15
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.45%
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| Cusip: | 17330RMM4
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