Published on 8/17/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $512,000 14% autocallable contingent coupon notes on four stocks
Chicago, Aug. 17 – Citigroup Global Markets Holdings Inc. priced $512,000 of autocallable contingent coupon equity-linked securities due July 29, 2025 linked to the worst performing of the common stocks of Apple Inc., JPMorgan Chase & Co. and Microsoft Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14% paid monthly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date.
The securities will be called automatically at par starting Oct. 25, 2022 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent monthly valuation date.
If the worst performing stock 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 stock declines, payable in shares or cash at issuer’s option.
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 stocks: | Apple Inc., JPMorgan Chase & Co. and Microsoft Corp. and Walmart Inc.
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| Amount: | $512,000
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| Maturity: | July 29, 2025
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| Coupon: | 14% annual rate, paid monthly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above final barrier par; 1% loss for every 1% that worst performing stock declines if it ends below final barrier
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| Call: | Automatically at par starting Oct. 25, 2022 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent monthly valuation date
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| Initial levels: | $156.79 for Apple, $115.24 for JPMorgan, $268.74 for Microsoft, $126.59 for Walmart
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| Coupon barriers: | $94.074 for Apple, $69.144 for JPMorgan, $161.244 for Microsoft, $75.954 for Walmart, 60% of initial levels
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| Final barriers: | $94.074 for Apple, $69.144 for JPMorgan, $161.244 for Microsoft, $75.954 for Walmart, 60% of initial levels
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| Pricing date: | July 27, 2022
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| Settlement date: | July 29, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17330DHU3
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