Published on 1/20/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.08 million contingent coupon equity linked autocalls on three stocks
New York, Jan. 20 – Citigroup Global Markets Holdings Inc. priced $1.08 million of autocallable contingent coupon equity linked securities due Jan. 23, 2026 linked to the common stocks of Apple Inc., Boeing Co. and UnitedHealth Group Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17% per year, paid monthly, if the worst performing stock closes at or above its 70% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing price of the worst performing stock is greater than or equal to its initial price on any monthly valuation date starting April 17.
If the worst performing stock finishes at or above its 70% 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: | Apple Inc., Boeing Co. and UnitedHealth Group Inc.
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Amount: | $1.08 million
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Maturity: | Jan. 23, 2026
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Coupon: | 17% per year, paid monthly if the worst performing stock closes at or above its 70% coupon barrier on the related valuation date, plus any previously unpaid coupons
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Price: | Par
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Payout at maturity: | If worst performing stock finishes at or above final barrier, par; otherwise, 1% loss for every 1% that worst performing stock declines from initial level
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Call: | Automatically at par if the closing price of the worst performing stock is greater than or equal to its initial price on any monthly valuation date starting April 17
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Initial levels: | $135.94 for Apple Inc., $211.41 for Boeing Co., $485.08 for UnitedHealth Group Inc.
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Coupon barriers: | $95.158 for Apple Inc., $147.987 for Boeing Co., $339.556 for UnitedHealth Group Inc., 70% of initial levels
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Final barriers: | $95.158 for Apple Inc., $147.987 for Boeing Co., $339.556 for UnitedHealth Group Inc., 70% of initial levels
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Pricing date: | Jan. 17
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Settlement date: | Jan. 20
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4%
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Cusip: | 17331CGY7
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