Published on 10/28/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $852,000 autocallable contingent coupon equity notes on Amazon, Apple
Chicago, Oct. 28 – Citigroup Global Markets Holdings Inc. priced $852,000 of autocallable contingent coupon equity-linked securities due March 5, 2025 linked to the worst performing of the stocks of Amazon.com, Inc. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 12.35% if each stock closes at or above the coupon barrier price, 75% of the initial price, on the valuation date for that quarter.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial price on any quarterly valuation date.
If the notes are not called and each stock finishes at or above final barrier price, 75% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the losses of the worst performer.
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: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Amazon.com, Inc. and Apple Inc.
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| Amount: | $852,000
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| Maturity: | March 5, 2025
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| Coupon: | 12.35% annualized rate, payable quarterly if each stock closes at or above coupon barrier price, on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each stock closes at or above final barrier; otherwise, full exposure to losses of worst performer
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly valuation date
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| Initial levels: | $3,071.26 for Amazon and $165.12 for Apple
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| Coupon barrier levels: | $2,303.445 for Amazon and $123.84 for Apple, 75% of initial levels
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| Final barrier levels: | $2,303.445 for Amazon and $123.84 for Apple, 75% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 3
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17330AUQ3
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