Published on 5/18/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $232,000 autocallable contingent coupon notes on indexes
Chicago, May 18 – Citigroup Global Markets Holdings Inc. priced $232,000 of autocallable contingent coupon equity linked securities due July 2, 2025 linked to the Dow Jones industrial average, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 5.3% 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 after one year if the price of the worst performing index is greater than or equal to its initial price on any quarterly valuation date.
If the worst performing index finishes at or above its 85% final buffer level the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing index declines beyond the 15% 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: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $232,000
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| Maturity: | July 2, 2025
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| Coupon: | 5.3% 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 buffer, par; 1% loss for every 1% that worst performing index declines if it ends beyond buffer
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| Call: | Automatically at par starting after one year if the price of the worst performing index is greater than or equal to its initial price on any quarterly valuation date
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| Initial levels: | 31,438.26 for Dow, 1,771.742 for Russell, 3,900.11 for S&P
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| Coupon barriers: | 22,006.782 for Dow, 1,240.219 for Russell, 2,730.077 for S&P, 70% of initial levels
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| Final buffer levels: | 26,722.521 for Dow, 1,505.981 for Russell, 3,315.094 for S&P, 85% of initial levels
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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: | 3.5%
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| Cusip: | 17330PAZ2
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