Published on 5/22/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $716,000 6.5% autocallable contingent coupon notes on indexes
Chicago, May 22 – Citigroup Global Markets Holdings Inc. priced $716,000 of autocallable contingent coupon equity linked securities due July 3, 2025 linked to the worst performing of the Euro Stoxx 50 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.5% paid quarterly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities will be called automatically at par starting Dec. 28, 2022 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly 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: | Euro Stoxx 50 index and S&P 500 index
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Amount: | $716,000
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Maturity: | July 3, 2025
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Coupon: | 6.5% annual rate, paid quarterly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date, plus any previously unpaid coupons
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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 at par starting Dec. 28, 2022 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date
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Initial levels: | 3,549.29 for Stoxx, 3,821.55 for S&P
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Coupon barriers: | 2,484.503 for Stoxx, 2,675.085 for S&P, 70% of initial levels
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Final barriers: | 2,484.503 for Stoxx, 2,675.085 for S&P, 70% of initial levels
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Pricing date: | June 28, 2022
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Settlement date: | July 1, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2%
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Cusip: | 17330PEJ4
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