Published on 10/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $500,000 19.05% autocallable contingent coupon notes on stocks
Chicago, Oct. 10 – Citigroup Global Markets Holdings Inc. priced $500,000 of autocallable contingent coupon equity-linked securities due Oct. 2, 2025 linked to the worst performing of the common stocks of FedEx Corp., Visa Inc. and Weyerhaeuser Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 19.05% paid monthly 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 March 29, 2023 and on any subsequent monthly valuation date if all three stocks close above their 85% autocall barrier levels.
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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | FedEx Corp., Visa Inc. and Weyerhaeuser Co.
|
| Amount: | $500,000
|
| Maturity: | Oct. 2, 2025
|
| Coupon: | 19.05% annual rate, paid monthly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date
|
| 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
|
| Call: | Automatically at par starting March 29, 2023 and on any subsequent monthly valuation date if all three stocks close above their 85% autocall barrier levels
|
| Initial levels: | $152.31 for FedEx, $180.06 for Visa, $27.75 for Weyerhaeuser
|
| Coupon barriers: | $91.386 for FedEx, $108.036 for Visa, $16.650 for Weyerhaeuser, 60% of initial levels
|
| Final barriers: | $91.386 for FedEx, $108.036 for Visa, $16.650 for Weyerhaeuser, 60% of initial levels
|
| Pricing date: | Sept. 29, 2022
|
| Settlement date: | Oct. 4, 2022
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.75%
|
| Cusip: | 17330RHL2
|
|
|
© 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.
