E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 10/25/2022 in the Prospect News Structured Products Daily.

New Issue: Citigroup prices $1.36 million 22.79% autocallable contingent coupon securities linked to stocks

New York, Oct. 25 – Citigroup Global Markets Holdings Inc. priced $1.36 million of autocallable contingent coupon equity linked securities due Oct. 24, 2024 linked to the common stocks of American Express Co., ConocoPhillips and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive an annualized coupon of 22.79% paid quarterly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date.

Starting April 19, 2023, the securities will be called at par if the price of the worst performing stock is greater than or equal to its initial price on any quarterly 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.

The notes are guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the agent.

Issuer:Citigroup Global Markets Holdings Inc.
Guarantor:Citigroup Inc.
Issue:Autocallable contingent coupon equity linked securities
Underlying stocks:American Express Co., ConocoPhillips and Microsoft Corp.
Amount:$1.36 million
Maturity:Oct. 24, 2024
Coupon:22.79% paid quarterly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date
Price:Par
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
Call:Starting April 19, 2023, automatically at par if price of worst performing stock is greater than or equal to initial price on any quarterly review date
Initial levels:$143.97 for American Express, $121.11 for ConocoPhillips, $236.48 for Microsoft
Coupon barriers:$86.382 for American Express, $72.666 for ConocoPhillips, $141.888 for Microsoft, 60% of initial levels
Final barriers:$86.382 for American Express, $72.666 for ConocoPhillips, $141.888 for Microsoft, 60% of initial levels
Pricing date:Oct. 19
Settlement date:Oct. 24
Agent:Citigroup Global Markets Inc.
Fees:1.75%
Cusip:17330DKG0

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.