Published on 4/25/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $393,000 9.75% autocallable contingent coupon equity notes on indexes
Chicago, April 25 – Citigroup Global Markets Holdings Inc. priced $393,000 of autocallable contingent coupon equity linked securities due May 28, 2027 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 Dynamic Participation index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.75% paid quarterly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities will be called automatically at par starting May 26, 2023 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date.
If the worst performing index finishes at or above its 60% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing index declines.
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 contingent coupon equity linked securities
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 Dynamic Participation index
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Amount: | $393,000
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Maturity: | May 28, 2027
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Coupon: | 9.75% annual rate, paid quarterly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above final barrier par; 1% loss for every 1% that worst performing index declines if it ends below final barrier
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Call: | Automatically at par starting May 26, 2023 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date
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Initial levels: | 11,943.93 for Nasdaq, 1,799.164 for Russell, 628.94 for S&P Dynamic
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Coupon barriers: | 8,360.751 for Nasdaq, 1,259.415 for Russell, 440.258 for S&P Dynamic, 70% of initial levels
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Final barriers: | 7,166.358 for Nasdaq, 1,079.498 for Russell, 377.364 for S&P Dynamic, 60% of initial levels
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Pricing date: | May 25, 2022
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Settlement date: | May 31, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.75%
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Cusip: | 17330FT92
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