Published on 8/21/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $597,000 9.95% autocallable equity linked securities on stocks
Chicago, Aug. 21 – Citigroup Global Markets Holdings Inc. priced $597,000 of 9.95% autocallable equity linked securities due Aug. 8, 2025 linked to the performance of the common stocks of Applied Materials, Inc., Freeport-McMoRan Inc. and Valero Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Coupons will be paid monthly.
The securities will be called automatically starting Feb. 3, 2023 at par if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent monthly valuation date.
The payout at maturity will be par if the worst performing stock ends at or above its 60% final barrier or if at least one stock closes above its initial level. Otherwise, investors will lose 1% for every 1% that the worst performing stock 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 equity linked securities
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| Underlying stocks: | Applied Materials, Inc., Freeport-McMoRan Inc. and Valero Energy Corp.
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| Amount: | $597,000
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| Maturity: | Aug. 8, 2025
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| Coupon: | 9.95% annual rate, paid monthly
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| Price: | Par
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| Payout at maturity: | If at least one stock finishes above initial level or if worst performing stock finishes at or above final barrier par; otherwise, 1% loss for every 1% that worst performing stock declines if it ends below final barrier
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| Call: | Automatically starting Feb. 3, 2023 at par if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent monthly valuation date
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| Initial levels: | $109.62 for Applied Materials, $30.27 for Freeport-McMoRan, $104.99 for Valero
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| Final barriers: | $65.772 for Applied Materials, $18.162 for Freeport-McMoRan, $62.994 for Valero, 60% of initial levels
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| Pricing date: | Aug. 5, 2022
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| Settlement date: | Aug. 10, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17330PRV3
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