Published on 12/14/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $254,000 autocallable securities linked to Dow, Nasdaq, Russell
By Kiku Steinfeld
Chicago, Dec. 14 – Citigroup Global Markets Holdings Inc. priced $254,000 of 0% autocallable securities due April 22, 2027 linked to the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on April 19, 2023 with a premium of a 9% annual rate if the worst performing index closes above its initial value and on any subsequent annual review date.
If the worst performing index closes at or above 95% of its initial level, the payout at maturity will be plus 45%. Investors will receive par if the worst performing index closes below 95% but at or above 70%. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below 70%
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 securities
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $254,000
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| Maturity: | April 22, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above trigger level, par plus 45%; par if worst performing index closes below trigger but at or above final barrier; otherwise 1% loss for every 1% that worst performing index declines
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| Call: | Automatically starting on April 19, 2023 with a premium of a 9% annual rate if the worst performing index closes above its initial value and on any subsequent annual review date
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| Initial levels: | 34,411.69 for Dow, 13,910.76 for Nasdaq, 1,990.134 for Russell
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| Trigger levels: | 32,691.106 for Dow, 13,215.222 for Nasdaq, 1,890.627 for Russell, 95% of initial level
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| Final barriers: | 24,088.183 for Dow, 9,737.532 for Nasdaq, 1,393.094 for Russell, 70% of initial level
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| Pricing date: | April 18
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| Settlement date: | April 21
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17330F5M9
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