Published on 11/10/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $665,000 9.85% autocallable contingent coupon notes on three indexes
By Kiku Steinfeld
Chicago, Nov. 10 – Citigroup Global Markets Holdings Inc. priced $665,000 of autocallable contingent coupon equity linked securities due March 16, 2028 linked to the Euro Stoxx Banks index, 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 9.85% 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 starting Sept. 12, 2022 at par if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date.
If the worst performing index 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 index 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: | Autocallable contingent coupon equity linked securities
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Underlying indexes: | Euro Stoxx Banks index, Russell 2000 index and S&P 500 index
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Amount: | $665,000
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Maturity: | March 16, 2028
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Coupon: | 9.85% 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 barrier par; 1% loss for every 1% that worst performing index declines if it ends below final barrier
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Call: | Automatically starting Sept. 12, 2022 at par if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date
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Initial levels: | 84.66 for Banks, 1,979.668 for Russell, 4,204.31 for S&P
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Coupon barriers: | 59.262 for Banks, 1,385.768 for Russell, 2,943.017 for S&P, 70% of initial levels
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Final barriers: | 50.796 for Banks, 1,187.801 for Russell, 2,522.586 for S&P, 60% of initial levels
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Pricing date: | March 11
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Settlement date: | March 16
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.5%
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Cusip: | 17330AMC3
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