Published on 4/27/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $500,000 autocallable securities on Dow, Nasdaq, S&P
Chicago, April 27 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% autocallable securities due June 1, 2027 tied to the worst performing of the Dow Jones industrial average, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each index closes at or above of its initial level on any annual valuation date, the notes will be called at par plus an annualized call premium of 13.5%.
If each index finishes at or above its initial level, the payout at maturity will be par plus 67.5%.
If the least performing index finishes below its initial level but not below the barrier level, 70% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
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 securities
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index, S&P 500 index
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| Amount: | $500,000
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| Maturity: | June 1, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus 67.5%; if the least performing index finishes below its initial level but not below the barrier level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level
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| Call: | If each index closes at or above its initial level on any annual valuation date, the notes will be called at par plus an annualized call premium of 13.5%
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| Initial levels: | 4,057.84 for S&P, 12,276.79 for Nasdaq, 32,637.19 for Dow
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| Barrier levels: | 2,840.488 for S&P, 8,593.753 for Nasdaq, 22,846.033 for Dow; 70% of initial levels
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| Pricing date: | May 26, 2022
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| Settlement date: | June 1, 2022
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17330FPF2
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