Published on 9/12/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $282,000 autocallable securities linked to Russell, Dynamic
Chicago, Sept. 12 – Citigroup Global Markets Holdings Inc. priced $282,000 of 0% autocallable securities due Aug. 31, 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.
The securities will be called automatically starting on Aug. 29, 2023 with a premium at a 10% annual rate if the worst performing index closes above 95% of its initial value and on any subsequent quarterly review date.
If the worst performing index finishes above the 95% call barrier, the payout at maturity will be par plus the 50% premium for the final valuation date. The payout will be par if the worst performing index declines more than 5% but by no more than the 20% buffer.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond its 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 securities
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| Underlying indexes: | Russell 2000 index and S&P 500 Dynamic Participation index
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| Amount: | $282,000
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| Maturity: | Aug. 31, 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 above call barrier, par plus 50% premium for final valuation date; par if worst performing index declines more than 5% but finishes at or above its 80% buffer; otherwise, 1% loss for every 1% that worst performing index declines beyond the buffer
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| Call: | Automatically starting on Aug. 29, 2023 with a premium at a 10% annual rate if the worst performing index closes above its call value and on any subsequent quarterly review date
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| Initial levels: | 1,899.830 for Russell, 617.61 for Dynamic Participation
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| Call levels: | 1,804.839 for Russell, 586.73 for Dynamic Participation, 95% of initial levels
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| Buffer level: | 1,519.864 for Russell, 494.088 for Dynamic Participation, 80% of initial levels
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| Buffer: | 20%
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| Pricing date: | Aug. 26, 2022
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| Settlement date: | Aug. 31, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4%
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| Cusip: | 17330PXY0
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