Published on 1/5/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.9 million contingent coupon equity linked autocalls on S&P 500
New York, Jan. 5 – Citigroup Global Markets Holdings Inc. priced $1.90 million of autocallable contingent coupon equity linked securities due Nov. 21, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9% per year, paid monthly, if the index closes at or above its 80% coupon barrier on the related valuation date.
The securities will be called automatically at par if the closing level of the index is greater than or equal to its initial level on any quarterly valuation date starting Nov. 16, 2023.
The payout at maturity will be par if the index finishes at or above 80% of initial level. Otherwise, investors will lose 1% for every 1% that the index declines beyond 20%.
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 index: | S&P 500 index
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| Amount: | $1,895,000
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| Maturity: | Nov. 21, 2024
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| Coupon: | 9% per year, paid monthly if the index closes at or above its 80% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If index finishes at or above buffer level, par; 1% loss for every 1% that index declines beyond 20%
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| Call: | Automatically at par if the closing level of the index is greater than or equal to its initial level on any quarterly valuation date starting Nov. 16, 2023
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| Initial level: | 3,991.73
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| Coupon barrier: | 3,193.384, 80% of initial level
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| Buffer: | 20%
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| Buffer level: | 3,193.384, 80% of initial level
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| Strike date: | Nov. 15, 2022
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| Pricing date: | Nov. 16, 2022
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| Settlement date: | Nov. 21, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.4%
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| Cusip: | 17330YNU0
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