Published on 4/24/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $615,000 10.25% autocallable contingent coupon notes on Dow, S&P
By Kiku Steinfeld
Chicago, April 24 – Citigroup Global Markets Holdings Inc. priced $615,000 of autocallable contingent coupon equity linked securities due Dec. 27, 2024 linked to the Dow Jones industrial average and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.25% paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities will be called automatically starting June 22, 2023 at par if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date.
If the worst performing index 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 index 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 indexes: | Dow Jones industrial average and S&P 500 index
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Amount: | $615,000
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Maturity: | Dec. 27, 2024
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Coupon: | 10.25% paid monthly if the worst performing index 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 index finishes at or above final barrier par; 1% loss for every 1% that worst performing index declines if it ends below final barrier
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Call: | Automatically starting June 22, 2023 at par if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date
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Initial levels: | 33,027.49 for Dow, 3,822.39 for S&P
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Coupon barriers: | 23,119.243 for Dow, 2,675.673 for S&P, 70% of initial levels
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Final barriers: | 23,119.243 for Dow, 2,675.673 for S&P, 70% of initial levels
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Pricing date: | Dec. 22, 2022
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Settlement date: | Dec. 28, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.75%
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Cusip: | 17330YUZ1
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