Published on 1/6/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.2 million contingent coupon equity linked autocallables on three ETFs
New York, Jan. 6 – Citigroup Global Markets Holdings Inc. priced $2.2 million of autocallable contingent coupon equity linked securities due Dec. 27, 2024 linked to the Invesco QQQ Trust, Series 1, the SPDR S&P 500 ETF Trust and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13% per year, paid monthly, if the worst performing ETF closes at or above its 80% coupon 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 ETF is greater than or equal to its initial price on any quarterly valuation date starting June 23, 2023.
If the worst performing ETF 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 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: | $2,202,000
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| Maturity: | Dec. 27, 2024
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| Coupon: | 13% paid monthly if the worst performing ETF closes at or above its 80% coupon barrier on the related valuation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If worst performing ETF finishes at or above final barrier, par; otherwise, 1% loss for every 1% that worst performing ETF declines from initial level
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| Call: | Automatically at par if the closing price of the worst performing ETF is greater than or equal to its initial price on any quarterly valuation date starting June 23, 2023
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| Initial levels: | $267.36 for Invesco QQQ Trust, Series 1, $382.91 for SPDR S&P 500 ETF Trust, $174.39 for iShares Russell 2000 ETF
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| Coupon barriers: | $213.888 for Invesco QQQ Trust, Series 1, $306.328 for SPDR S&P 500 ETF Trust, $139.512 for iShares Russell 2000 ETF, 80% of initial levels
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| Final barriers: | $187.152 for Invesco QQQ Trust, Series 1, $268.037 for SPDR S&P 500 ETF Trust, $122.073 for iShares Russell 2000 ETF, 70% of initial levels
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| Pricing date: | Dec. 23
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| Settlement date: | Dec. 29
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.4%
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| Cusip: | 17330YYW4
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