Published on 2/9/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.23 million 13% autocallable equity linked securities on three stocks
New York, Feb. 9 – Citigroup Global Markets Holdings Inc. priced $1.23 million of 13% autocallable equity linked securities due May 9, 2024 linked to the common stocks of Apple Inc., Bank of America Corp. and Berkshire Hathaway Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is paid monthly.
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 May 4.
The payout at maturity will be par if the worst performing stock ends at or above its 70% final barrier. Otherwise, investors will lose 1% 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 equity linked securities
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| Underlying stocks: | Apple Inc., Bank of America Corp. and Berkshire Hathaway Inc.
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| Amount: | $1,226,000
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| Maturity: | May 9, 2024
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| Coupon: | 13% per year, 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 the closing price of the worst performing stock is greater than or equal to its initial price on any monthly valuation date starting May 4
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| Initial levels: | $151.73 for Apple Inc., $36.37 for Bank of America Corp., $308.43 for Berkshire Hathaway Inc.
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| Final barriers: | $106.211 for Apple Inc., $25.459 for Bank of America Corp., $215.901 for Berkshire Hathaway Inc., 70% of initial levels
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| Pricing date: | Feb. 6
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| Settlement date: | Feb. 9
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17331CKJ5
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