Published on 12/20/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $6.53 million contingent coupon equity linked autocalls on three stocks
New York, Dec. 20 – Citigroup Global Markets Holdings Inc. priced $6.53 million of autocallable contingent coupon equity linked securities due Dec. 18, 2025 linked to the common stocks of Crowdstrike Holdings, Inc., Domino's Pizza, Inc. and Toll Brothers, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 18% per year, paid monthly, if the worst performing stock closes at or above its 60% final 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 March 14, 2023.
If the worst performing stock finishes at or above its 60% final barrier, the payout at maturity will be par. Otherwise, investors will receive a number of shares of the worst performing stock equal to $1,000 divided by that stock’s initial level or, at the issuer’s option, the cash value of those shares.
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: | Crowdstrike Holdings, Inc., Domino's Pizza, Inc. and Toll Brothers, Inc.
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| Amount: | $6,529,000
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| Maturity: | Dec. 18, 2025
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| Coupon: | 18% per year, paid monthly if the worst performing stock closes at or above its 60% final 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, receive a number of shares of the worst performing stock equal to its equity ratio or, at the issuer’s option, the cash equivalent
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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 March 14, 2023
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| Initial levels: | $120.99 for Crowdstrike Holdings, Inc., $361.87 for Domino's Pizza, Inc., $50.59 for Toll Brothers, Inc.
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| Final barriers: | $72.594 for Crowdstrike Holdings, Inc., $217.122 for Domino's Pizza, Inc., $30.354 for Toll Brothers, Inc., 60% of initial levels
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| Equity ratio: | 8.26515 for Crowdstrike Holdings, Inc., 2.76342 for Domino's Pizza, Inc., 19.76675 for Toll Brothers, Inc., shares delivered per security
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| Strike date: | Dec. 13
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| Pricing date: | Dec. 14
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| Settlement date: | Dec. 19
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17331ACH2
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