Published on 4/17/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.32 million contingent coupon equity linked autocalls on Amazon, Apple
New York, April 17 – Citigroup Global Markets Holdings Inc. priced $2.32 million of autocallable contingent coupon equity linked securities due April 4, 2024 linked to the common stocks of Amazon.com, Inc. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 20%, paid quarterly, if the worst performing stock closes at or above its 75% 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 quarterly valuation date.
If the worst performing stock finishes at or above its 75% final barrier, the payout at maturity will be par. Otherwise, investors will receive a number of shares of the worst performer equal to $1,000 divided by that stock’s initial value or, at the issuer’s option, the cash equivalent.
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: | Amazon.com, Inc. and Apple Inc.
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| Amount: | $2,324,000
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| Maturity: | April 4, 2024
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| Coupon: | 20%, paid quarterly if the worst performing stock closes at or above its 75% 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, receive a number of shares of the worst performer equal to its equity ratio or, at the issuer’s option, the cash equivalent
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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 quarterly valuation date
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| Initial levels: | $100.25 for Amazon.com, Inc., $160.77 for Apple Inc.
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| Coupon barriers: | $75.188 for Amazon.com, Inc., $120.578 for Apple Inc., 75% of initial levels
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| Final barriers: | $75.188 for Amazon.com, Inc., $120.578 for Apple Inc., 75% of initial levels
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| Equity ratios: | 9.97506 for Amazon.com, Inc., 6.22007 for Apple Inc., shares delivered per security
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| Pricing date: | March 29
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| Settlement date: | April 3
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17331ACT6
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