Published on 10/2/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $614,000 autocallable securities linked to Alphabet, FedEx, Microsoft
Chicago, Oct. 2 – Citigroup Global Markets Holdings Inc. priced $614,000 of 0% autocallable securities due Oct. 2, 2025 linked to the worst performing of the common stocks of Alphabet Inc., FedEx Corp. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on Sept. 27, 2023 with a premium of a 18.5% annual rate if the worst performing stock closes above its premium threshold value and on any subsequent annual review date. The first premium threshold is 100% of the initial. It is 80% of the initial level on the second annual review date and 60% on the final maturity date.
Investors will receive par plus 55.5% if the worst performing stock but ends above the 60% barrier and lose 1% for every 1% that the worst performing stock declines if it finishes below its barrier.
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 securities
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| Underlying stocks: | Alphabet Inc., FedEx Corp. and Microsoft Corp.
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| Amount: | $614,000
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| Maturity: | Oct. 2, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above 60% barrier, par plus 55.5%; otherwise, 1% loss for every 1% that worst performing stock declines
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| Call: | Automatically starting on Sept. 27, 2023 with a premium of a 18.5% annual rate if the worst performing stock closes above its premium threshold value and on any subsequent annual review date; premium thresholds are 100%, 80% and then 60% on each subsequent review date
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| Initial levels: | $98.09 for Alphabet, $144.95 for FedEx, $236.41 for Microsoft
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| Final barriers: | $58.854 for Alphabet, $86.970 for FedEx, $141.846 for Microsoft, 60% of initial levels
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| Pricing date: | Sept. 27, 2022
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| Settlement date: | Sept. 30, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17330RT62
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