Published on 2/13/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $683,000 19% autocallable contingent coupon notes on stocks
Chicago, Feb. 13 – Citigroup Global Markets Holdings Inc. priced $683,000 of autocallable contingent coupon equity linked securities due Dec. 30, 2025 linked to the worst performing of the common stocks of Advanced Micro Devices, Inc., Airbnb, Inc. and Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 19% paid monthly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date.
The securities will be called automatically at par starting March 25, 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 60% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing stock declines, payable in shares or cash at the issuer’s option.
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: | Advanced Micro Devices, Inc., Airbnb, Inc. and Meta Platforms, Inc.
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Amount: | $683,000
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Maturity: | Dec. 30, 2025
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Coupon: | 19% annual rate, paid monthly 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, payable as shares or cash at issuer’s option
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Call: | Automatically at par starting March 25, 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: | $147.41 for AMD, $136.14 for Airbnb, $353.96 for Meta.
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Coupon barriers: | $88.446 for AMD, $81.684 for Airbnb, $212.376 for Meta, 60% of initial levels
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Final barriers: | $88.446 for AMD, $81.684 for Airbnb, $212.376 for Meta, 60% of initial levels
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Pricing date: | Dec. 29, 2023
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Settlement date: | Jan. 3, 2024
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.25%
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Cusip: | 17331AQR5
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