Published on 1/18/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $2.99 million variable coupon market-linked autocalls on four stocks
By William Gullotti
Buffalo, N.Y., Jan. 18 – Citigroup Global Markets Holdings Inc. priced $2.99 million of autocallable variable coupon market-linked notes due Dec. 30, 2027 tied to the stock performance of Amazon.com, Inc., Alphabet Inc., Goldman Sachs Group, Inc. and Morgan Stanley, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a monthly coupon at a variable rate.
If each stock closes at or above its 75% coupon barrier on the corresponding review date, the payable coupon will be the equivalent of approximately 7.4% per year. If any stock closes below its coupon barrier, the equivalent annual rate will be 0.25%.
If each stock closes at or above its initial level on any monthly 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.
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| Issue: | Autocallable variable coupon market-linked notes
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| Guarantor: | Citigroup Inc.
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| Underlying stocks: | Amazon.com, Inc., Alphabet Inc., Goldman Sachs Group, Inc., Morgan Stanley
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| Amount: | $2,994,000
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| Maturity: | Dec. 30, 2027
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| Coupon: | Variable, payable monthly; if each stock closes at or above its coupon barrier on the corresponding review date, the coupon will be equivalent to 7.4% per year; if any stock closes below its coupon barrier, the coupon will be 0.25%
|
| 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 monthly valuation date after one year
|
| Initial levels: | $83.04 for Amazon, $87.39 for Alphabet, $341.97 for Goldman Sachs, $85.06 for Morgan Stanley
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| Coupon barriers: | $62.28 for Amazon, $65.543 for Alphabet, $256.478 for Goldman Sachs, $63.795 for Morgan Stanley; 75% of initial level
|
| Pricing date: | Dec. 27
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| Settlement date: | Dec. 30
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| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.75%
|
| Cusip: | 17330YZ78
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