Published on 7/27/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $580,000 callable contingent coupon notes linked to Amazon, Apple, Tesla
New York, July 27 – Citigroup Global Markets Holdings Inc. priced $580,000 of callable contingent coupon equity linked securities due Sept. 18, 2025 linked to the common stocks of Amazon.com, Inc., Apple Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 20.75% paid monthly if the worst performing stock closes at or above its 50% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities may be called starting Dec. 13, 2022 and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing stock ends at or above its 50% final barrier. Otherwise investors will lose 1% for every 1% that the worst performing stock 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: | Callable contingent coupon equity linked securities
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| Underlying stocks: | Amazon.com, Inc., Apple Inc. and Tesla, Inc.
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| Amount: | $580,000
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| Maturity: | Sept. 18, 2025
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| Coupon: | 20.75% paid monthly if the worst performing stock closes at or above its 50% coupon barrier on the related valuation date, plus any previously unpaid coupons
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| Price: | Par
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| 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
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| Call: | Starting Dec. 13, 2022 and on any subsequent monthly review date
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| Initial levels: | $126.82 for Amazon.com, Inc., $153.84 for Apple Inc., $292.13 for Tesla, Inc.
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| Coupon barriers: | $63.410 for Amazon.com, Inc., $76.920 for Apple Inc., $146.065 for Tesla, Inc., 50% of initial levels
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| Final barriers: | $63.410 for Amazon.com, Inc., $76.920 for Apple Inc., $146.065 for Tesla, Inc., 50% of initial levels
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| Pricing date: | Sept. 13, 2022
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| Settlement date: | Sept. 16, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.85%
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| Cusip: | 17330KCU2
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