Published on 12/9/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $500,000 autocallable contingent coupon equity notes on four stocks
Chicago, Dec. 9 – Citigroup Global Markets Holdings Inc. priced $500,000 of autocallable contingent coupon equity linked securities due Jan. 12, 2023 linked to the worst performing of the common stocks of Bank of America Corp., JPMorgan Chase & Co., Goldman Sachs Group, Inc. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.1% if the worst performing stock closes at or above its 75% coupon barrier on the related quarterly valuation date.
The securities will be called automatically starting July 5 if the price of the worst performing stock is greater than or equal to its initial price and on the subsequent determination date.
If the worst performing stock finishes at or above its 60% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing stock declines, payable in cash or shares at the issuer’s option.
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 contingent coupon equity linked securities
|
| Underlying stocks: | Bank of America Corp., JPMorgan Chase & Co., Goldman Sachs Group, Inc. and Wells Fargo & Co.
|
| Amount: | $500,000
|
| Maturity: | Jan. 12, 2023
|
| Coupon: | 13.1% annual rate, if the worst performing stock closes at or above its 75% 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: | Automatically starting July 5 if the price of the worst performing stock is greater than or equal to its initial price and on the subsequent determination date
|
| Initial levels: | $40.83 for BofA, $135.91 for JPMorgan, $328.21 for Goldman, $48.46 for Wells Fargo
|
| Coupon barriers: | $30.623 for BofA, $101.933 for JPMorgan, $246.158 for Goldman, $36.345 for Wells Fargo, 75% of initial levels
|
| Final barriers: | $24.498 for BofA, $81.546 for JPMorgan, $196.926 for Goldman, $29.076 for Wells Fargo, 60% of initial levels
|
| Strike date: | April 4
|
| Pricing date: | April 5
|
| Settlement date: | April 12
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.2%
|
| Cusip: | 17330DBS4
|
|
|
© 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.
