Published on 4/20/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $183,000 autocallable securities on Dow, Russell, S&P
By Kiku Steinfeld
Chicago, April 20 – Citigroup Global Markets Holdings Inc. priced $183,000 of 0% autocallable securities due Dec. 27, 2027 linked to the worst performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Global Markets Inc.
The notes are called at par plus a premium of 8.25% per year if each asset closes at or above 90% of its initial level on any quarterly call valuation date after one year.
The payout at maturity will be par plus the 41.25% premium applicable if the worst performing index finishes above 90% of its initial value.
The payout at maturity will be par if the worst performing index finishes between 65% and 90% of its initial level. Otherwise, investors will be exposed to losses of the worst performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Autocallable securities
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| Underlying assets: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
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| Amount: | $183,000
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| Maturity: | Dec. 27, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus the final 41.25% call premium if worst performing asset finishes above 90% of initial level; par if worst performing asset finishes between 65% and 90% of its initial level; otherwise, full exposure to decline of worst performer
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| Call: | At par plus a call premium of 8.25% per year if each asset closes at or above 90% its initial value on any quarterly call valuation date after one year
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| Initial values: | 33,376.48 for Dow, 1,776.941 for Russell, 3,878.44 for S&P
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| Trigger values: | 21,694.712 for Dow, 1,155.012 for Russell, 2,520.986 for S&P; 65% of initial values
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| Premium threshold values: | 30,038.832 for Dow, 1,599.247 for Russell, 3,490.596 for S&P; 90% of initial values
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| Pricing date: | Dec. 21, 2022
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| Settlement date: | Dec. 27, 2022
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17330YMG2
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