Published on 8/29/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $524,000 autocallable securities on Nasdaq, S&P Dynamic
By Kiku Steinfeld
Chicago, Aug. 29 – Citigroup Global Markets Holdings Inc. priced $524,000 of autocallable securities due Jan. 26, 2027 linked to the worst performing of the Nasdaq-100 index and the S&P 500 Dynamic Participation index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be automatically called at par plus 7% per year if each index closes at or above its initial level on any quarterly valuation date after one year.
If the notes are not called and each index finishes at or above its buffer level, 85% of its initial level, the payout at maturity will be par plus 35%. Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 15%.
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: | Nasdaq-100 index, S&P 500 Dynamic Participation index
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| Amount: | $524,000
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| Maturity: | Jan. 26, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 35% if each index finishes at or above buffer; otherwise, investors will lose 1% for every 1% decline of the worst performer below buffer level
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| Call: | Automatically at par plus 7% annualized if each index closes at or above initial level on any quarterly valuation date after one year
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| Initial levels: | 14,438.40 for Nasdaq, 660.01 for S&P Dynamic
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| Coupon barrier levels: | 12,272.640 for Nasdaq, 561.009 for S&P Dynamic; 85% of initial levels
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| Buffer levels: | 12,272.640 for Nasdaq, 561.009 for S&P Dynamic; 85% of initial levels
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| Pricing date: | Jan. 21
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| Settlement date: | Jan. 26
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.75%
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| Cusip: | 17329UMX6
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