Published on 2/4/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $600,000 7.5% autocallable contingent coupon notes on S&P 500
By Kiku Steinfeld
Chicago, Feb. 6 – Citigroup Global Markets Holdings Inc. priced $600,000 of autocallable contingent coupon equity linked securities due Nov. 12, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.5% if the index closes at or above its 85% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities will be called automatically at par starting May 4, 2023 and on any subsequent quarterly determination date if the index closes at or above 105% of its initial level.
If the index finishes at or above its 85% final barrier, the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the 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 index: | S&P 500 index
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Amount: | $600,000
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Maturity: | Nov. 12, 2027
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Coupon: | 7.5% if the index closes at or above its 85% 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 index finishes at or above final barrier par; 1% loss for every 1% that index declines if it ends below final barrier
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Call: | Automatically at par starting May 4, 2023 and on any subsequent quarterly determination date if the index closes at or above 105% of its initial level
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Initial level: | 3,719.89
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Coupon barrier: | 3,161.907, 85% of initial level
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Final barrier: | 3,161.907, 85% of initial level
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Pricing date: | Nov. 4, 2022
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Settlement date: | Nov. 14, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.8%
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Cusip: | 17330YCQ1
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