Published on 9/15/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $800,000 17.75% autocallable contingent coupon notes on stocks
Chicago, Sept. 15 – Citigroup Global Markets Holdings Inc. priced $800,000 of autocallable contingent coupon equity linked securities due Sept. 5, 2025 linked to the worst performing of the common stocks of Amazon.com, Inc., Lam Research Corp. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17.75% paid quarterly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date.
The securities will be called automatically at par starting Feb. 28, 2023 and on any subsequent quarterly valuation date if all three stocks close above their 90% autocall barrier values.
If the worst performing stock finishes at or above its 60% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss 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 contingent coupon equity linked securities
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| Underlying stocks: | Amazon.com, Inc., Lam Research Corp. and Visa Inc.
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| Amount: | $800,000
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| Maturity: | Sept. 5, 2025
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| Coupon: | 17.75% annual rate, paid quarterly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date
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| Price: | Par
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| 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
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| Call: | Automatically at par starting Feb. 28, 2023 and on any subsequent quarterly valuation date if all three stocks close above their 90% autocall barrier values
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| Initial levels: | $126.77 for Amazon.com, $437.91 for Lam, $198.71 for Visa
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| Autocall barrier levels: | $114.093 for Amazon, $394.119 for Lam, $178.839 for Visa, 90% of initial levels
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| Coupon barriers: | $76.062 for Amazon, $262.746 for Lam, $119.226 for Visa, 60% of initial levels
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| Final barriers: | $76.062 for Amazon, $262.746 for Lam, $119.226 for Visa, 60% of initial levels
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| Pricing date: | Aug. 31, 2022
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| Settlement date: | Sept. 6, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17330RDH5
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