Published on 8/18/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $2.14 million 10.35% autocallable equity linked securities on three stocks
New York, Aug. 18 – Citigroup Global Markets Holdings Inc. priced $2.14 million of 10.35% autocallable equity linked securities due Aug. 21, 2025 linked to the common stocks of Edwards Lifesciences Corp., Nike, Inc. and Estée Lauder Cos. Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly.
The securities will be called automatically at par if each stock closes at or above its call level, 95% of initial level, on any monthly valuation date starting Dec. 14.
The payout at maturity will be par if the worst performing stock ends at or above its 55% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing stock declines from initial level.
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 equity linked securities
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| Underlying stocks: | Edwards Lifesciences Corp., Nike, Inc. and Estée Lauder Cos. Inc.
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| Amount: | $2.14 million
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| Maturity: | Aug. 21, 2025
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| Coupon: | 10.35%, paid monthly
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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 each stock closes at or above its call level, 95% of initial level, on any monthly valuation date starting Dec. 14
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| Initial levels: | $78.28 for Edwards Lifesciences Corp., $109.03 for Nike, Inc., $169.94 for Estée Lauder Cos. Inc.
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| Call levels: | $74.366 for Edwards Lifesciences Corp., $103.579 for Nike, Inc., $161.443 for Estée Lauder Cos. Inc., 95% of initial levels
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| Final barriers: | $43.054 for Edwards Lifesciences Corp., $59.967 for Nike, Inc., $93.467 for Estée Lauder Cos. Inc., 55% of initial levels
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| Strike date: | Aug. 10
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| Pricing date: | Aug. 11
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| Settlement date: | Aug. 21
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17291Q5L4
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