Published on 5/24/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $732,000 11.4% autocallable equity-linked securities on stocks
Chicago, May 24 – Citigroup Global Markets Holdings Inc. priced $732,000 of 11.4% autocallable equity-linked securities due July 3, 2025 linked to the worst performing of the common stocks of Adobe Inc., Intuit Inc. and SVB Financial Group, according to a 424B2 filing with the Securities and Exchange Commission.
Coupons will be paid monthly.
The securities will be called automatically starting Sept. 28, 2022 at par if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent monthly valuation date.
The payout at maturity will be par if the worst performing stock ends at or above its 50% 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: | Autocallable equity-linked securities
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| Underlying stocks: | Adobe Inc., Intuit Inc. and SVB Financial Group
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| Amount: | $732,000
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| Maturity: | July 3, 2025
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| Coupon: | 11.4% annual rate, payable monthly
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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 starting Sept. 28, 2022 at par 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: | $368.50 for Adobe, $389.66 for Intuit, $402.56 for SVB
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| Final barriers: | $184.250 for Adobe, $194.830 for Intuit, $201.280 for SVB, 50% of initial levels
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| Pricing date: | June 29, 2022
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| Settlement date: | July 5, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17330PKC2
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