By Kiku Steinfeld
Chicago, March 18 – Citigroup Global Markets Holdings Inc. priced $2.12 million of autocallable contingent coupon equity-linked securities due Aug. 2, 2024 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annualized rate of 7.5% if the index closes at or above the coupon barrier level, 75% of the initial level, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the index close at or above the initial level on any monthly valuation date after six months.
If the notes are not called and the final level is greater than or equal to the 75% final barrier level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the decline of the index level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $2,122,000
|
| Maturity: | Aug. 2, 2024
|
| Coupon: | 7.5% annually, payable monthly if index closes at or above coupon barrier level on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and final level is greater than or equal to final barrier level, par; otherwise, full exposure to decline in the index
|
| Call: | Automatically at par plus contingent coupon if index closes at or above initial level on any monthly valuation date after six months
|
| Initial level: | 4,450.38
|
| Coupon barrier level: | 3,337.785, 75% of initial level
|
| Final barrier level: | 3,337.785, 75% of initial level
|
| Pricing date: | June 30, 2023
|
| Settlement date: | July 6, 2023
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17291R3B6
|
|
|
© 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.
