Published on 3/11/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $401,000 autocallables on Dow, S&P 500 Dynamic
By Kiku Steinfeld
Chicago, March 13 – Citigroup Global Markets Holdings Inc. priced $401,000 of 0% autocallable securities due Dec. 1, 2027 linked to the Dow Jones industrial average and S&P 500 Dynamic Participation index, according to a 424B2 filing with the Securities and Exchange Commission.
Starting on Nov. 28, 2023, the securities will be called automatically at par plus a premium of 10% per year if the worst performing index closes at or above 90% of its initial level on any quarterly review date.
If the worst performing index finishes at or above its call level, the payout at maturity will be par plus 50%. If the worst performing index finishes below its call level but at or above its buffer level, 80% of its initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond 20%.
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 and S&P 500 Dynamic Participation index
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| Amount: | 401,000
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| Maturity: | Dec. 1, 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 call level, par plus 50%; if worst performing index finishes below call level but at or above buffer level, par; otherwise, 1% loss for every 1% that worst performing index declines beyond 20%
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| Call: | Starting on Nov. 28, 2023, automatically at par plus a premium of a 10% per year if the worst performing index closes at or above 90% of its initial value on any quarterly review date
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| Initial levels: | 33,849.46 for Dow, 623.04 for S&P 500 Dynamic
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| Buffer: | 20%
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| Buffer levels: | 27,079.568 for Dow, 498.432 for S&P 500 Dynamic; 80% of initial levels
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| Call levels: | 30,464.514 for Dow, 560.736 for S&P Dynamic; 90% of initial levels
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| Pricing date: | Nov. 28, 2022
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| Settlement date: | Nov. 30, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.6%
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| Cusip: | 17330YGE4
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