Published on 4/27/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $534,000 13.2% autocallable equity notes on stocks
Chicago, April 27 – Citigroup Global Markets Holdings Inc. priced $534,000 of 13.2% autocallable equity-linked securities due March 2, 2023 linked to the worst performing of the common stocks of Apple Inc., Bank of America Corp. and Berkshire Hathaway Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Coupons will be paid monthly.
The securities will be called automatically starting Aug. 26, 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 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: | Autocallable equity-linked securities
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| Underlying stocks: | Apple Inc., Bank of America Corp. and Berkshire Hathaway Inc.
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| Amount: | $534,000
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| Maturity: | March 2, 2023
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| Coupon: | 13.2% 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 Aug. 26, 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: | $143.78 for Apple, $36.67 for BofA, $312.50 for Berkshire
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| Final barriers: | $100.646 for Apple, $25.669 for BofA, $218.750 for Berkshire, 70% of initial levels
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| Pricing date: | May 26, 2022
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| Settlement date: | June 1, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17330FRL7
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