Published on 12/14/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $250,000 44% autocallable contingent coupon notes on tech stocks
By Kiku Steinfeld
Chicago, Dec. 14 – Citigroup Global Markets Holdings Inc. priced $250,000 of autocallable contingent coupon equity linked securities due April 24, 2025 linked to the common stocks of Apple Inc., Microsoft Corp. and NVIDIA Corp. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 44% paid monthly if the worst performing stock closes at or above its 80% coupon barrier on the related valuation date.
The securities will be called automatically starting July 18 at par if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent quarterly valuation date.
If the worst performing stock finishes at or above its 70% final barrier, the payout at maturity will be par. Otherwise investors will lose 1% loss 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 contingent coupon equity linked securities
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| Underlying stocks: | Apple Inc., Microsoft Corp. and NVIDIA Corp. and Tesla, Inc.
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| Amount: | $250,000
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| Maturity: | April 24, 2025
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| Coupon: | 44% paid monthly if the worst performing stock closes at or above its coupon barrier on the related valuation date
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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 July 18 at par if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent quarterly valuation date
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| Initial levels: | $165.07 for Apple, $280.52 for Microsoft, $217.83 for NVIDIA, $1,004.29 for Tesla
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| Coupon barriers: | $132.056 for Apple, $224.416 for Microsoft, $174.264 for NVIDIA, $803.432 for Tesla, 80% of initial levels
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| Final barriers: | $115.549 for Apple, $196.364 for Microsoft, $152.481 for NVIDIA, $703.003 for Tesla, 70% of initial levels
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| Pricing date: | April 18
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| Settlement date: | April 21
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
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| Cusip: | 17330FEV9
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