Published on 9/5/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $735,000 13% autocallable contingent coupon notes on stocks
Chicago, Sept. 5 – Citigroup Global Markets Holdings Inc. priced $735,000 of autocallable contingent coupon equity linked securities due Aug. 27, 2025 linked to the worst performing of the common stocks of NIKE, Inc., Goldman Sachs Group, Inc. and Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13% 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, 2022 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent monthly valuation date.
If the worst performing stock 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 stock declines, payable in cash or shares 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: | NIKE, Inc., Goldman Sachs Group, Inc. and Walt Disney Co.
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| Amount: | $735,000
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| Maturity: | Aug. 27, 2025
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| Coupon: | 13% 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 starting Nov. 25, 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: | $107.88 for NIKE, $333.92 for Goldman, $113.53 for Disney
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| Coupon barriers: | $64.728 for NIKE, $200.352 for Goldman, $68.118 for Disney, 60% of initial levels
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| Final barriers: | $64.728 for NIKE, $200.352 for Goldman, $68.118 for Disney, 60% of initial levels
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| Pricing date: | Aug. 29, 2022
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| Settlement date: | Aug. 31, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17330DJA5
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