Published on 9/27/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $600,000 autocallable barrier securities on Nasdaq, Dow, S&P
Chicago, Sept. 27 – Citigroup Global Markets Holdings Inc. priced $600,000 of 0% autocallable barrier securities due Feb. 8, 2024 linked to the performance of the Nasdaq-100 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically redeemed at par plus a 12.5% call premium if all indexes finish above their initial levels on Feb. 7, 2023.
If the notes are not called and all indexes finish 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 70% 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 Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Autocallable barrier securities
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Underlying indexes: | Nasdaq-100 index, S&P 500 index, Dow Jones industrial average
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Amount: | $600,000
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Maturity: | Feb. 8, 2024
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Coupon: | 0%
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Price: | Par
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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 from the initial level of the worst performing index
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Call: | At par plus 12.5% call premium if each index finishes above initial level on Feb. 7, 2023
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Initial levels: | 35,089.74 for Dow, 14,694.35 for Nasdaq, 4,500.53 for S&P
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Trigger levels: | 24,562.818 for Dow, 10,286.045 for Nasdaq, 3,150.371 for S&P; 70% of initial levels
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Pricing date: | Feb. 4
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Settlement date: | Feb. 9
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 2.4%
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Cusip: | 17330A4Z2
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