Published on 11/23/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1 million equity-linked securities on three stocks
By Kiku Steinfeld
Chicago, Nov. 23 – Citigroup Global Markets Holdings Inc. priced $1 million of 6.6% equity-linked securities due March 27, 2023 tied to the worst performing of the stocks of General Mills, Inc., Conagra Brands, Inc. and Mondelez International, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable monthly.
The payout at maturity will be par unless any stock finishes below its final barrier value, 60% of its initial value, in which case investors will be fully exposed to the decline of the least-performing stock.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Equity-linked securities
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Underlying stocks: | General Mills, Inc., Conagra Brands, Inc. and Mondelez International, Inc.
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Amount: | $1 million
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Maturity: | March 27, 2023
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Coupon: | 6.6%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below final barrier value, in which case full exposure to least-performing stock’s decline
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Initial levels: | $62.82 for General Mills, $31.96 for Conagra, $61.37 for Mondelez
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Final barrier levels: | $37.692 for General Mills, $19.176 for Conagra, $36.822 for Mondelez; 60% of initial values
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Pricing date: | March 22
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Settlement date: | March 25
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.2%
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Cusip: | 17330AZV7
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