Published on 2/1/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $2.3 million contingent coupon equity linked autocalls on three stocks
New York, Feb. 1 – Citigroup Global Markets Holdings Inc. priced $2.30 million of autocallable contingent coupon equity linked securities due Jan. 29, 2025 linked to the stock performance of Alphabet Inc., Goldman Sachs Group, Inc. and Home Depot, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.75% per year, paid monthly, if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date.
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 monthly valuation date starting April 25.
If the worst performing stock finishes at or above its 60% 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: | Alphabet Inc., Goldman Sachs Group, Inc. and Home Depot, Inc.
|
| Amount: | $2,304,000
|
| Maturity: | Jan. 29, 2025
|
| Coupon: | 11.75% per year, paid monthly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date
|
| 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 monthly valuation date starting April 25
|
| Initial levels: | $99.37 for Alphabet Inc., $353.70 for Goldman Sachs Group, Inc., $316.69 for Home Depot, Inc.
|
| Coupon barriers: | $59.622 for Alphabet Inc., $212.220 for Goldman Sachs Group, Inc., $190.014 for Home Depot, Inc., 60% of initial levels
|
| Final barriers: | $59.622 for Alphabet Inc., $212.220 for Goldman Sachs Group, Inc., $190.014 for Home Depot, Inc., 60% of initial levels
|
| Equity Ratios: | 10.06340 for Alphabet Inc., 2.82725 for Goldman Sachs Group, Inc., 3.15766 for Home Depot, Inc., shares delivered per security
|
| Pricing date: | Jan. 27
|
| Settlement date: | Jan. 31
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.25%
|
|
|
| Cusip: | 17331AAV3
|
|
|
|
|
© 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.
