Published on 9/25/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $320,000 31% autocallable contingent coupon equity notes on stocks
Chicago, Sept. 25 – Citigroup Global Markets Holdings Inc. priced $320,000 of autocallable contingent coupon equity linked securities due Sept. 22, 2023 linked to the worst performing of the common stocks of Meta Platforms, Inc., Netflix, Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 31% paid quarterly if the worst performing stock closes at or above its 50% coupon barrier on the related valuation date.
The securities will be called automatically at par starting Dec. 19, 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 58% 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: | Meta Platforms, Inc., Netflix, Inc. and Tesla, Inc.
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Amount: | $320,000
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Maturity: | Sept. 22, 2023
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Coupon: | 31% annual rate, paid quarterly if the worst performing stock closes at or above its 50% 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 Dec. 19, 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
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Initial levels: | $148.02 for Meta, $243.63 for Netflix, $309.07 for Tesla
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Coupon barriers: | $74.010 for Meta, $121.815 for Netflix, $154.535 for Tesla, 50% of initial levels
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Final barriers: | $85.852 for Meta, $141.305 for Netflix, $179.261 for Tesla, 58% of initial levels
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Pricing date: | Sept. 19, 2022
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Settlement date: | Sept. 22, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.65%
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Cusip: | 17330RVL6
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