Published on 12/9/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1 million 10% autocallable contingent coupon notes on QQQ, SPDR S&P 500, iShares Russell
New York, Dec. 9 – Citigroup Global Markets Holdings Inc. priced $1 million of autocallable contingent coupon equity linked securities due Dec. 12, 2024 linked to the Invesco QQQ Trust, series 1, SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annualized coupon of 10% paid quarterly if the worst performing ETF closes at or above its 60% coupon barrier on the related valuation date.
The securities will be called automatically starting March 6, 2023 if the price of the worst performing ETF is greater than or equal to its initial price on any quarterly valuation date.
If the worst performing ETF finishes at or above its 60% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing ETF 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 contingent coupon equity linked securities
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| Underlying ETFs: | Invesco QQQ Trust, Series 1, SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF
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| Amount: | $1 million
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| Maturity: | Dec. 12, 2024
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| Coupon: | 10% paid quarterly if the worst performing ETF 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 ETF finishes at or above final barrier par; 1% loss for every 1% that worst performing ETF declines if it ends below final barrier
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| Call: | Automatically starting March 6, 2023 if the price of the worst performing ETF is greater than or equal to its initial price on any quarterly valuation date
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| Initial levels: | $292.55 for Invesco QQQ Trust, Series 1, $406.91 for SPDR S&P 500 ETF Trust, $188.05 for iShares Russell 2000 ETF
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| Coupon barriers: | $175.530 for Invesco QQQ Trust, Series 1, $244.146 for SPDR S&P 500 ETF Trust, $112.83 for iShares Russell 2000 ETF, 60% of initial levels
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| Final barriers: | $175.530 for Invesco QQQ Trust, Series 1, $244.146 for SPDR S&P 500 ETF Trust, $112.83 for iShares Russell 2000 ETF, 60% of initial levels
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| Pricing date: | Dec. 5
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| Settlement date: | Dec. 12
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17331AAU5
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