Published on 10/12/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $878,000 autocallable contingent coupon notes on funds, index
Chicago, Oct. 12 – Citigroup Global Markets Holdings Inc. priced $878,000 of autocallable contingent coupon equity-linked securities due Oct. 3, 2024 linked to the worst performing of the Communication Services Select Sector SPDR Fund, the Financial Select Sector SPDR Fund and the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
If each underlying asset closes at or above the 65% coupon barrier level on a quarterly review date, the notes will pay a coupon at an annual rate of 11.65% for that quarter.
If each underlying asset closes at or above its initial level on any quarterly review date starting after six months the notes will be called at par plus the coupon.
If the notes have not been called and each underlying asset finishes at or above its 65% barrier level, the payout at maturity will be par plus the coupon. Otherwise, investors will be exposed to any losses of the worst performing asset.
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 assets: | Communication Services Select Sector SPDR Fund, Financial Select Sector SPDR Fund and S&P 500 index
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| Amount: | $878,000
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| Maturity: | Oct. 3, 2024
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| Coupon: | 11.65% annual rate,, payable if each asset closes at or above coupon barrier level on quarterly review date
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| Price: | Par
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| Payout at maturity: | If each underlying asset finishes at or above its barrier level, par plus coupon; otherwise, investors will be exposed to any losses of worst performing asset
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| Call: | At par plus contingent coupon if each underlying asset closes at or above its initial level on any quarterly review date starting after six months
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| Initial levels: | $47.89 for communication, $30.36 for financial, 3,585.62 for S&P
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| Coupon barrier levels: | $31.129 for communication, $19.734 for financial, 2,330.653 for S&P; 65% of initial levels
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| Barrier levels: | $31.129 for communication, $19.734 for financial, 2,330.653 for S&P; 65% of initial levels
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| Pricing date: | Sept. 30, 2022
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| Settlement date: | Oct. 5, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17330RG66
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