Published on 12/13/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $6.47 million variable coupon market-linked autocalls on five tech stocks
By William Gullotti
Buffalo, N.Y., Dec. 13 – Citigroup Global Markets Holdings Inc. priced $6.47 million of autocallable variable coupon market-linked notes due Nov. 26, 2027 tied to the stock performance of Amazon.com, Inc., Apple Inc., Alphabet Inc., Netflix, Inc. and Tesla, Inc., according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a quarterly coupon at a variable rate.
If each stock closes at or above its initial level on the corresponding review date, the payable coupon will be the equivalent of approximately 7.5% per year. If any stock closes below its initial level, the equivalent annual rate will be 4%.
If each stock closes at or above its initial level on any quarterly valuation date after one year, the notes will be automatically called at par plus the coupon.
The payout at maturity will be par plus the relevant coupon.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Issue: | Autocallable variable coupon market-linked notes
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| Guarantor: | Citigroup Inc.
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| Underlying stocks: | Amazon.com, Inc., Apple Inc., Alphabet Inc., Netflix, Inc., Tesla, Inc.
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| Amount: | $6,465,000
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| Maturity: | Nov. 26, 2027
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| Coupon: | Variable, payable quarterly; if each stock closes at or above its initial level on the corresponding review date, the coupon will be equivalent to 7.5% per year; if any stock closes below its initial level, the coupon will be 4%
|
| Price: | Par
|
| Payout at maturity: | Par plus the relevant coupon
|
| Call: | Automatically at par plus coupon if each stock closes at or above its initial level on any quarterly valuation date after one year
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| Initial levels: | $92.46 for Amazon, $148.01 for Apple, $95.60 for Alphabet, $285.05 for Netflix, $167.87 for Tesla
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| Pricing date: | Nov. 21
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| Settlement date: | Nov. 25
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4%
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| Cusip: | 17330YGP9
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