Published on 3/26/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $250,000 26% callable contingent coupon equity notes on four stocks
By Kiku Steinfeld
Chicago, March 27 – Citigroup Global Markets Holdings Inc. priced $250,000 of callable contingent coupon equity linked securities due Dec. 5, 2025 linked to the common stocks of Amazon.com, Inc., Costco Wholesale Corp. and Target Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 26% paid monthly if the worst performing stock closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called at par starting March 2, 2023 and on any subsequent monthly 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: | Amazon.com, Inc., Costco Wholesale Corp., Target Corp. and Walmart Inc.
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Amount: | $250,000
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Maturity: | Dec. 5, 2025
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Coupon: | 26% paid monthly if the worst performing stock closes at or above its 70% 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: | At par starting March 2, 2023 and on any subsequent monthly review date
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Initial levels: | $94.13 for Amazon, $494.53 for Costco, $164.16 for Target, $153.22 for Walmart
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Coupon barriers: | $65.891 for Amazon, $346.171 for Costco, $114.912 for Target, $107.254 for Walmart, 70% of initial levels
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Final barriers: | $56.478 for Amazon, $296.718 for Costco, $98.496 for Target, $91.932 for Walmart, 60% of initial levels
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Pricing date: | Dec. 2
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Settlement date: | Dec. 7
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.75%
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Cusip: | 17330YS68
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