Published on 3/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.63 million 12.7% autocallable contingent coupon notes on three stocks
New York, March 10 – Citigroup Global Markets Holdings Inc. priced $1.63 million of autocallable contingent coupon equity linked securities due March 11, 2026 linked to the common stocks of Altria Group, Inc., Cisco Systems, Inc. and Packaging Corp. of America, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.7% paid monthly if the worst performing stock closes at or above its 70% coupon barrier on the related valuation date.
The securities will be called automatically starting March 6, 2024 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent monthly valuation date.
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: | Altria Group, Inc., Cisco Systems, Inc. and Packaging Corp. of America
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Amount: | $1,627,000
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Maturity: | March 11, 2026
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Coupon: | 12.7% 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: | Automatically starting March 6, 2024 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent monthly valuation date
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Initial levels: | $47.19 for Altria Group, Inc., $49.42 for Cisco Systems, Inc., $137.76 for Packaging Corp. of America
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Coupon barriers: | $33.033 for Altria Group, Inc., $34.594 for Cisco Systems, Inc., $96.432 for Packaging Corp. of America, 70% of initial levels
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Final barriers: | $23.595 for Altria Group, Inc., $24.710 for Cisco Systems, Inc., $68.880 for Packaging Corp. of America, 50% of initial levels
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Pricing date: | March 6
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Settlement date: | March 9
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17331CZZ3
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