Published on 3/4/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $165,000 autocallable securities linked to Dow, Russell, S&P
By Kiku Steinfeld
Chicago, March 6 – Citigroup Global Markets Holdings Inc. priced $165,000 of 0% autocallable securities due Nov. 26, 2027 linked to the Dow Jones industrial average, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on Nov. 24, 2023 at par plus a premium of 8.5% annually if the worst performing index closes above 90% of its initial value and on any subsequent quarterly review date.
If the worst performing index finishes at or above its 90%, the payout at maturity will be par plus 42.5%. Investors will receive par if the worst performing index finishes below its 90% level call premium threshold and above the 65% barrier. They will lose 1% for every 1% that the worst performing index declines if it finishes below its barrier.
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, Russell 2000 index and S&P 500 index
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| Amount: | $165,000
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| Maturity: | Nov. 26, 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 its 90% call premium threshold, par plus 42.5%; par if worst performing index finishes below its call premium threshold and above its 65% barrier; otherwise 1% loss for every 1% that worst performing index declines
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| Call: | Automatically starting on Nov. 24, 2023 with a premium of a 8.5% annual rate if the worst performing index closes above 90% of its initial value and on any subsequent quarterly review date
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| Initial levels: | 34,098.10 for Dow, 1,860.441 for Russell, 4,003.58 for S&P
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| Call premium threshold: | 90%
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| Trigger values: | 22,163.765 for Dow, 1,209.287 for Russell, 2,602.327 for S&P, 65% of initial levels
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| Pricing date: | Nov. 22, 2022
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| Settlement date: | Nov. 28, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17330YH86
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