Published on 9/13/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $922,000 21% autocallable contingent coupon securities on stocks
Chicago, Sept. 13 – Citigroup Global Markets Holdings Inc. priced $922,000 of autocallable contingent coupon equity-linked securities due Aug. 27, 2025 linked to the worst performing of the common stocks of Amazon.com, Inc., Meta Platforms, Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 21% 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 Nov. 25 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing stock ends at or above its 60% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing stock declines, payable in shares or cash at the 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: | Amazon.com, Inc., Meta Platforms, Inc. and Netflix, Inc.
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Amount: | $922,000
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Maturity: | Aug. 27, 2025
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Coupon: | 21% 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, payable in cash or shares at issuer’s option
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Call: | Automatically at par starting Nov. 25 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent monthly review date
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Initial levels: | $129.79 for Amazon, $159.17 for Meta, $224.57 for Netflix.
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Coupon barriers: | $77.874 for Amazon, $95.502 for Meta, $134.742 for Netflix, 60% of initial levels
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Final barriers: | $77.874 for Amazon, $95.502 for Meta, $134.742 for Netflix, 60% of initial levels
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Pricing date: | Aug. 29
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Settlement date: | Aug. 31
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.25%
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Cusip: | 17330DFH4
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