Published on 12/7/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1 million equity-linked securities on three stocks
By Kiku Steinfeld
Chicago, Dec. 7 – Citigroup Global Markets Holdings Inc. priced $1 million of 7.9% equity-linked securities due April 5, 2024 tied to the worst performing of the stocks of JPMorgan Chase & Co., FedEx Corp. and Verizon Communications 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, 50% 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: | JPMorgan Chase & Co., FedEx Corp. and Verizon Communications Inc.
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Amount: | $1 million
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Maturity: | April 5, 2024
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Coupon: | 7.9%, 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: | $140.54 for JPMorgan, $235.25 for FedEx, $51.61 for Verizon
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Final barrier levels: | $70.270 for JPMorgan, $117.625 for FedEx, $25.805 for Verizon; 50% of initial values
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Pricing date: | March 31
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Settlement date: | April 5
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.4%
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Cusip: | 17330F5R8
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