Published on 8/17/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $735,000 25.5% callable contingent coupon equity notes on stocks
Chicago, Aug. 17 – Citigroup Global Markets Holdings Inc. priced $735,000 of callable contingent coupon equity linked securities due July 27, 2026 linked to the worst performing of the common stocks of Amazon.com, Inc., Meta Platforms, Inc. and Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 25.5% paid monthly if the worst performing stock closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called at par starting July 24, 2023 and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing stock ends at or above its 70% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing stock declines.
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: | Callable contingent coupon equity linked securities
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Underlying stocks: | Amazon.com, Inc., Meta Platforms, Inc. and Walt Disney Co.
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Amount: | $735,000
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Maturity: | July 27, 2026
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Coupon: | 25.5% annual rate, paid monthly if the worst performing stock 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 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: | At par starting July 24, 2023 and on any subsequent monthly review date
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Initial levels: | $122.42 for Amazon, $169.27 for Meta, $102.72 for Disney
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Coupon barriers: | $85.694 for Amazon, $118.489 for Meta, $71.904 for Disney, 70% of initial levels
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Final barriers: | $85.694 for Amazon, $118.489 for Meta, $71.904 for Disney, 70% of initial levels
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Pricing date: | July 22, 2022
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Settlement date: | July 27, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.75%
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Cusip: | 17330PN21
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