Published on 2/15/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $510,000 17.2% callable contingent coupon equity notes on stocks
By Kiku Steinfeld
Chicago, Feb. 15 – Citigroup Global Markets Holdings Inc. priced $510,000 of callable contingent coupon equity linked securities due Nov. 19, 2025 linked to the common stocks of Alphabet Inc., Amazon.com, Inc. and Qualcomm Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17.2% paid quarterly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date.
The securities may be called starting Feb. 20, 2024 at par and on any subsequent quarterly review date.
The payout at maturity will be par if the worst performing stock ends at or above its 60% 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: | Alphabet Inc., Amazon.com, Inc. and Qualcomm Inc.
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| Amount: | $510,000
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| Maturity: | Nov. 19, 2025
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| Coupon: | 17.2% paid quarterly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date
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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 Feb. 20, 2024 at par and on any subsequent quarterly review date
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| Initial levels: | $98.36 for Alphabet, $94.85 for Amazon, $122.86 for Qualcomm
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| Coupon barriers: | $59.016 for Alphabet, $56.910 for Amazon, $73.716 for Qualcomm, 60% of initial levels
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| Final barriers: | $59.016 for Alphabet, $56.910 for Amazon, $73.716 for Qualcomm, 60% of initial levels
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| Pricing date: | Nov. 17, 2022
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| Settlement date: | Nov. 21, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17330YGG9
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