Published on 12/11/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $550,000 7.25% autocallable contingent coupon notes on Decrement indexes
By Kiku Steinfeld
Chicago, Dec. 12 – Citigroup Global Markets Holdings Inc. priced $550,000 of autocallable contingent coupon equity linked securities due April 15, 2027 linked to the Nasdaq-100 Total Return 2% Decrement index, Russell 2000 2% Decrement index and S&P 500 3% Decrement index TR, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.25% paid monthly if the worst performing index closes at or above its 60% coupon barrier on the related valuation date.
The securities will be called automatically starting April 12, 2023 at par if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date.
If the worst performing index 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 index declines.
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 indexes: | Nasdaq-100 Total Return 2% Decrement index, Russell 2000 2% Decrement index and S&P 500 3% Decrement index TR
|
| Amount: | $550,000
|
| Maturity: | April 15, 2027
|
| Coupon: | 7.25% paid monthly if the worst performing index closes at or above its 60% coupon barrier on the related valuation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing index finishes at or above final barrier par; 1% loss for every 1% that worst performing index declines if it ends below final barrier
|
| Call: | Automatically starting April 12, 2023 at par if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date
|
| Initial levels: | 997.29 for Nasdaq, 1,477.65 for Russell, 928.45 for S&P
|
| Coupon barriers: | 598.374 for Nasdaq, 886.590 for Russell, 557.070 for S&P, 60% of initial levels
|
| Final barriers: | 598.374 for Nasdaq, 886.590 for Russell, 557.070 for S&P, 60% of initial levels
|
| Pricing date: | April 11
|
| Settlement date: | April 14
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.25%
|
| Cusip: | 17330FJE2
|
|
|
© 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.
