Published on 6/23/2023 in the Prospect News Structured Products Daily.
New Issue: Citi sells $2.5 million autocallable contingent coupon equity linked securities on stocks
New York, June 23 – Citigroup Global Markets Holdings Inc. priced $2.50 million of autocallable contingent coupon equity linked securities due June 22, 2028 linked to the common stocks of Airbnb, Inc., Amazon.com, Inc., DocuSign, Inc. and Paycom Software, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 18%, 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 will be called automatically at par if the closing price of the worst performing stock is greater than or equal to its initial price on any monthly valuation date starting Dec. 18, 2023.
If the worst performing stock finishes at or above its 50% final barrier, the payout at maturity will be par. Otherwise, investors will lose 1% loss 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: | Autocallable contingent coupon equity linked securities
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| Underlying stocks: | Airbnb, Inc., Amazon.com, Inc., DocuSign, Inc. and Paycom Software, Inc.
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| Amount: | $2,502,000
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| Maturity: | June 22, 2028
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| Coupon: | 18%, 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; otherwise, 1% loss for every 1% that worst performing stock declines from initial level
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| Call: | Automatically at par if the closing price of the worst performing stock is greater than or equal to its initial price on any monthly valuation date starting Dec. 18, 2023
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| Initial levels: | $128.68 for Airbnb, Inc., $125.49 for Amazon.com, Inc., $53.85 for DocuSign, Inc., $319.92 for Paycom Software, Inc.
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| Coupon barriers: | $64.340 for Airbnb, Inc., $62.745 for Amazon.com, Inc., $26.925 for DocuSign, Inc., $159.960 for Paycom Software, Inc., 50% of initial levels
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| Final barriers: | $64.340 for Airbnb, Inc., $62.745 for Amazon.com, Inc., $26.925 for DocuSign, Inc., $159.960 for Paycom Software, Inc., 50% of initial levels
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| Pricing date: | June 16
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| Settlement date: | June 22
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4%
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| Cusip: | 17291RBN1
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