Published on 9/16/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $500,000 22.3% autocallable contingent coupon equity notes on stocks
Chicago, Sept. 16 – Citigroup Global Markets Holdings Inc. priced $500,000 of autocallable contingent coupon equity linked securities due Jan. 30, 2025 linked to the worst performing of the common stocks of Costco Wholesale Corp., JPMorgan Chase & Co. and Trade Desk, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 22.3% 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 starting April 25 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing stock ends at or above its 60% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing stock declines, payable in cash or shares at the option of the issuer.
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: | Costco Wholesale Corp., JPMorgan Chase & Co. and Trade Desk, Inc.
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| Amount: | $500,000
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| Maturity: | Jan. 30, 2025
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| Coupon: | 22.3% 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, payable in cash or shares at the option of the issuer
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| Call: | Automatically at par starting April 25 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent monthly review date
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| Initial levels: | $477.32 for Costco, $146.53 for JPMorgan, $62.67 for Trade Desk
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| Coupon barriers: | $286.392 for Costco, $87.918 for JPMorgan, $37.602 for Trade Desk, 60% of initial levels
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| Final barriers: | $286.392 for Costco, $87.918 for JPMorgan, $37.602 for Trade Desk, 60% of initial levels
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 28
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
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| Cusip: | 17328N5F1
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