Published on 5/11/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $45,000 autocallable securities linked to sector funds
Chicago, May 11 – Citigroup Global Markets Holdings Inc. priced $45,000 of 0% autocallable securities due June 23, 2026 linked to the Communication Services Select Sector SPDR fund and Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on June 20, 2023 with a premium of a 16% annual rate if the worst performing fund closes above its initial value and on any subsequent annual review date.
If the worst performing fund gains the payout at maturity will be par plus the 64% premium for the final valuation date. Investors will receive par if the worst performing fund but ends above the 70% barrier and lose 1% for every 1% that the worst performing fund 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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying funds: | Communication Services Select Sector SPDR fund and Financial Select Sector SPDR fund
|
| Amount: | $45,000
|
| Maturity: | June 23, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If worst performing fund finishes at or above its initial value, par plus 64% premium for final valuation date; par if worst performing fund declines but finishes at or above its 70% barrier; otherwise, 1% loss for every 1% that worst performing fund declines
|
| Call: | Automatically starting on June 20, 2023 with a premium of a 16% annual rate if the worst performing fund closes above its initial value and on any subsequent annual review date
|
| Initial levels: | $53.84 for communication, $30.93 for financial
|
| Final barriers: | $37.688 for communication, $21.651 for financial, 70% of initial levels
|
| Pricing date: | June 17, 2022
|
| Settlement date: | June 23, 2022
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0%
|
| Cusip: | 17330P2D0
|
|
|
© 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.
