Published on 12/23/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $7.75 million contingent coupon equity linked autocalls on Stoxx, S&P
New York, Dec. 23 – Citigroup Global Markets Holdings Inc. priced $7.75 million of autocallable contingent coupon equity linked securities due Nov. 19, 2024 linked to the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.6% per year, paid quarterly, if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities will be called automatically at par if the closing level of the worst performing index is greater than or equal to its initial level on any quarterly valuation date.
If the worst performing index finishes at or above its 65% final barrier, the payout at maturity will be par. Otherwise, investors will lose 1% loss for every 1% that the worst performing index 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 indexes: | Euro Stoxx 50 index and S&P 500 index
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Amount: | $7.75 million
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Maturity: | Nov. 19, 2024
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Coupon: | 9.6% paid quarterly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above final barrier, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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Call: | Automatically starting Feb. 14, 2023 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date
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Initial levels: | 3,835.70 for Euro Stoxx 50 index, 3,895.75 for S&P 500 index
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Coupon barriers: | 2,684.99 for Euro Stoxx 50 index, 2,727.025 for S&P 500 index, 70% of initial levels
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Final barriers: | 2,493.205 for Euro Stoxx 50 index, 2,532.238 for S&P 500 index, 65% of initial levels
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Strike date: | Dec. 15
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Pricing date: | Dec. 16
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Settlement date: | Dec. 20
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17330YXC9
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