Published on 2/22/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $500,000 23.1% autocallable contingent coupon equity notes on stocks
Chicago, Feb. 22 – Citigroup Global Markets Holdings Inc. priced $500,000 of autocallable contingent coupon equity linked securities due May 8, 2025 linked to the worst performing of the common stocks of Amazon.com, Inc., Apple Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 23.1% 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 Aug. 3, 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.
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: | Amazon.com, Inc., Apple Inc. and Tesla, Inc.
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Amount: | $500,000
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Maturity: | May 8, 2025
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Coupon: | 23.1% 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
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Call: | Automatically at par starting Aug. 3, 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
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Initial levels: | $2,485.07 for Amazon, $159.48 for Apple, $909.25 for Tesla
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Coupon barriers: | $1,491.042 for Amazon, $95.688 for Apple, $545.550 for Tesla, 60% of initial levels
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Final barriers: | $1,491.042 for Amazon, $95.688 for Apple, $545.550 for Tesla, 60% of initial levels
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Pricing date: | May 3, 2022
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Settlement date: | May 6, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.5%
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Cusip: | 17330FL25
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