Published on 5/18/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $443,000 autocallable contingent coupon equity notes on two stocks
Chicago, May 18 – Citigroup Global Markets Holdings Inc. priced $443,000 of autocallable contingent coupon equity linked securities due June 30, 2023 linked to the common stocks of Apple Inc. and Johnson & Johnson, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10% paid quarterly if the worst performing stock closes at or above its 68% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities will be called automatically at par starting Sept. 27, 2022 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent quarterly valuation date.
If the worst performing stock finishes at or above its 68% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing stock declines, payable in cash or shares at the option of the issuer.
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: | Apple Inc. and Johnson & Johnson
|
| Amount: | $443,000
|
| Maturity: | June 30, 2023
|
| Coupon: | 10% annual rate, paid quarterly if the worst performing stock closes at or above its 68% coupon barrier on the related valuation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | If worst performing stock finishes at or above final barrier par; 1% loss for every 1% that worst performing stock declines if it ends below final barrier, payable in cash or shares at option of issuer
|
| Call: | Automatically at par starting Sept. 27, 2022 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent quarterly valuation date
|
| Initial levels: | $141.66 for Apple Inc., $182.12 for Johnson & Johnson
|
| Coupon barriers: | $96.329 for Apple, $123.842 for Johnson & Johnson, 68% of initial levels
|
| Final barriers: | $96.329 for Apple, $123.842 for Johnson & Johnson, 68% of initial levels
|
| Equity ratios: | 7.05916 for Apple, 5.49089 for Johnson & Johnson
|
| Pricing date: | June 27, 2022
|
| Settlement date: | June 30, 2022
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17330DJG2
|
|
|
© 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.
