Published on 5/18/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $108,000 8.25% autocallable contingent coupon equity notes on indexes
Chicago, May 18 – Citigroup Global Markets Holdings Inc. priced $108,000 of autocallable contingent coupon equity linked securities due July 1, 2027 linked to the worst performing of the 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 8.25% paid monthly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date.
The securities will be called automatically at par starting June 28, 2023 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date.
The payout at maturity will be par if the worst performing index gains or declines by no more than its 15% buffer. Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond the buffer.
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: | Russell 2000 index and S&P 500 Dynamic Participation index
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Amount: | $108,000
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Maturity: | July 1, 2027
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Coupon: | 8.25% annual rate, paid monthly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | If worst performing index gains or declines by no more than 15% buffer par; 1% loss for every 1% that worst performing index declines beyond buffer
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Call: | Automatically at par starting June 28, 2023 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date
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Initial levels: | 1,771.742 for Russell, 584.46 for S&P Dynamic index
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Coupon barriers: | 1,328.807 for Russell, 438.345 for S&P Dynamic index, 75% of initial levels
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Buffer levels: | 1,505.981 for Russell, 496.791 for S&P Dynamic index, 85% of initial levels
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Buffer: | 15%
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Pricing date: | June 27, 2022
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Settlement date: | June 30, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4%
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Cusip: | 17330PBU2
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