Published on 11/10/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.19 million 13% autocallable equity securities on three stocks
By Kiku Steinfeld
Chicago, Nov. 10 – Citigroup Global Markets Holdings Inc. priced $1.19 million of 13% autocallable equity linked securities due March 14, 2025 linked to the common stocks of Block Inc., Netflix, Inc. and PayPal Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly at 13% per year.
The securities will be called automatically starting June 13 at par and on any subsequent quarterly valuation date if each stock is greater than or equal to 95% of its initial level.
The payout at maturity will be par if the worst performing stock ends at or above its 50% final barrier. Otherwise investors will lose 1% for every 1% that the worst performing stock declines.
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 equity linked securities
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| Underlying stocks: | Block Inc., Netflix, Inc. and PayPal Holdings, Inc.
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| Amount: | $1,188,000
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| Maturity: | March 14, 2025
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| Coupon: | 13% per year, payable monthly
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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
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| Call: | Automatically starting June 13 at par and on any subsequent quarterly valuation date if each stock is greater than or equal to 95% of its initial level
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| Initial levels: | $101.93 for Block, $340.32 for Netflix, $96.57 for PayPal Holdings
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| Final barriers: | $50.965 for Block, $170.160 for Netflix, $48.285 for PayPal Holdings, 50% of initial levels
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| Pricing date: | March 11
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| Settlement date: | March 16
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17330AMJ8
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