Published on 3/7/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $699,000 11.88% autocallable contingent coupon notes on index, funds
Chicago, March 7 – Citigroup Global Markets Holdings Inc. priced $699,000 of autocallable contingent coupon equity linked securities due May 16, 2024 linked to the worst performing of the Communication Services Select Sector SPDR Fund, S&P 500 index and Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.88% paid quarterly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date.
The securities will be called automatically at par starting Nov. 14, 2022 if the price of the worst performing asset is greater than or equal to its initial price and on any subsequent quarterly valuation date.
If the worst performing asset 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 asset 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 assets: | Communication Services Select Sector SPDR fund, S&P 500 index and Technology Select Sector SPDR fund
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Amount: | $699,000
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Maturity: | May 16, 2024
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Coupon: | 11.88% annual rate, paid quarterly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | If worst performing asset finishes at or above final barrier par; 1% loss for every 1% that worst performing asset declines if it ends below final barrier
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Call: | Automatically at par starting Nov. 14, 2022 if the price of the worst performing asset is greater than or equal to its initial price and on any subsequent quarterly valuation date
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Initial levels: | $59.01 for Communication, 4,023.89 for S&P 500, $135.86 for Technology
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Coupon barriers: | $41.307 for Communication, 2,816.723 for S&P 500, $95.102 for Technology, 70% of initial levels
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Final barriers: | $41.307 for Communication, 2,816.723 for S&P 500, $95.102 for Technology, 70% of initial levels
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Pricing date: | May 13, 2022
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Settlement date: | May 18, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.5%
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Cusip: | 17330FVZ1
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