Published on 12/12/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $598,000 22% callable contingent coupon equity notes on stocks
Chicago, Dec. 12 – Citigroup Global Markets Holdings Inc. priced $598,000 of callable contingent coupon equity linked securities due May 13, 2026 linked to the worst performing of the common stocks of Amazon.com, Inc., Costco Wholesale Corp. and Target Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 22% paid monthly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date.
The securities may be called at par starting Aug. 8 and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing stock ends at or above its 60% final barrier. 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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity linked securities
|
| Underlying stocks: | Amazon.com, Inc., Costco Wholesale Corp. and Target Corp. and Walmart Inc.
|
| Amount: | $598,000
|
| Maturity: | May 13, 2026
|
| Coupon: | 22% 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: | At par starting Aug. 8 and on any subsequent monthly review date
|
| Initial levels: | $105.655 for Amazon, $499.06 for Costco, $156.30 for Target, $151.77 for Walmart
|
| Coupon barriers: | $63.393 for Amazon, $299.436 for Costco, $93.780 for Target, $91.062 for Walmart, 60% of initial levels
|
| Final barriers: | $63.393 for Amazon, $299.436 for Costco, $93.780 for Target, $91.062 for Walmart, 60% of initial levels
|
| Pricing date: | May 8, 2023
|
| Settlement date: | May 11, 2023
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.5%
|
| Cusip: | 17331HUM6
|
|
|
© 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.
