Published on 10/12/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $750,000 autocallable contingent coupon equity notes on stock, ETFs
Chicago, Oct. 12 – Citigroup Global Markets Holdings Inc. priced $750,000 of autocallable contingent coupon equity-linked securities due Nov. 17, 2022 linked to the worst performing of Apple Inc., the Invesco QQQ Trust, series 1, the iShares Russell 2000 ETF and the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent coupon at an annual rate of 12% if each underlier closes at or above the coupon barrier level, 80% of the initial level, any quarterly observation date.
The notes will be automatically called at par plus the coupon if each underlier closes at or above its initial level on any quarterly autocall date.
If the notes are not called and each underlier finishes at or above its final barrier level, 65% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer, payable in shares or cash at the option of the issuer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying assets: | Apple Inc., SPDR S&P 500 ETF trust, iShares Russell 2000 ETF, Invesco QQQ Trust, series 1
|
| Amount: | $750,000
|
| Maturity: | Nov. 17, 2022
|
| Coupon: | 12% annualized rate, payable if each underlier closes at or above coupon barrier level on related quarterly coupon observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each underlier closes at or above final barrier; otherwise, investors will lose 1% for every 1% decline of the worst performer, payable in shares or cash at the option of the issuer
|
| Call: | Automatically at par plus coupon if each underlier closes at or above initial level on either quarterly potential autocall date
|
| Initial levels: | $174.83 for Apple, $359.12 for Invesco, $202.76 for Russell, $450.94 for S&P
|
| Coupon barrier levels: | $139.864 for Apple, $287.296 for Invesco, $162.208 for Russell, $360.752 for S&P; 80% of initial levels
|
| Final barrier levels: | $113.64 for Apple, $233.428 for Invesco, $131.794 for Russell, $293.111 for S&P; 65% of initial levels
|
| Equity ratios: | 5.71984 for Apple, 2.78458 for Invesco, 4.93194 for Russell, 2.21759 for S&P
|
| Strike date: | Feb. 8
|
| Pricing date: | Feb. 9
|
| Settlement date: | Feb. 16
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.2%
|
| Cusip: | 17328N2T4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
