Published on 12/21/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $3.84 million contingent coupon equity linked autocalls on Amazon, JPMorgan
New York, Dec. 21 – Citigroup Global Markets Holdings Inc. priced $3.84 million of autocallable contingent coupon equity linked securities due Dec. 18, 2025 linked to the common stocks of Amazon.com, Inc. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5% per year, paid quarterly, if the worst performing stock closes at or above its 50% final barrier on the related valuation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing price of the worst performing stock is greater than or equal to its initial price on any quarterly valuation date.
If the worst performing stock finishes at or above its 50% final barrier, the payout at maturity will be par. Otherwise, investors will receive a number of shares of the worst performer equal to $1,000 divided by that stock’s initial price or, at the issuer’s option, the cash value of those shares.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
|
Guarantor: | Citigroup Inc.
|
Issue: | Autocallable contingent coupon equity linked securities
|
Underlying stocks: | Amazon.com, Inc. and JPMorgan Chase & Co.
|
Amount: | $3,842,000
|
Maturity: | Dec. 18, 2025
|
Coupon: | 10.5% per year, paid quarterly if the worst performing stock closes at or above its 50% final barrier on the related valuation date, plus any previously unpaid coupons
|
Price: | Par
|
Payout at maturity: | If worst performing stock finishes at or above final barrier, par; otherwise, receive a number of shares of the worst performer equal to its equity ratio or, at the issuer’s option, the cash equivalent
|
Call: | Automatically at par if the closing price of the worst performing stock is greater than or equal to its initial price on any quarterly valuation date
|
Initial levels: | $88.45 for Amazon.com, Inc., $130.10 for JPMorgan Chase & Co.
|
Final barriers: | $44.225 for Amazon.com, Inc., $65.050 for JPMorgan Chase & Co., 50% of initial levels
|
Equity ratios: | 11.30582 for Amazon.com, Inc., 7.6864 for JPMorgan Chase & Co., shares delivered per security
|
Pricing date: | Dec. 15
|
Settlement date: | Dec. 20
|
Agent: | Citigroup Global Markets Inc.
|
Fees: | 2%
|
|
Cusip: | 17331AAX9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.