Published on 6/5/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $360,000 10.05% autocallable equity notes on four tech stocks
By Kiku Steinfeld
Chicago, June 5 – Citigroup Global Markets Holdings Inc. priced $360,000 of 10.05% autocallable equity linked securities due Jan. 30, 2026 linked to the common stocks of Alphabet Inc., Amazon.com, Inc., Apple Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting July 24, 2023 at par if the price of the worst performing stock is greater than or equal to its initial price on any quarterly valuation date.
The payout at maturity will be par if the worst performing stock ends at or above its 50% 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: | Alphabet Inc., Amazon.com, Inc. and Apple Inc. and Microsoft Corp.
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| Amount: | $360,000
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| Maturity: | Jan. 30, 2026
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| Coupon: | 10.05%
|
| 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
|
| Call: | Automatically starting July 24, 2023 at par if the price of the worst performing stock is greater than or equal to its initial price on any quarterly valuation date
|
| Initial levels: | $99.16 for Alphabet, $99.22 for Amazon, $143.96 for Apple, $248 for Microsoft
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| Final barriers: | $49.580 for Alphabet, $49.610 for Amazon, $71.980 for Apple, $124 for Microsoft, 50% of initial levels
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| Pricing date: | Jan. 26, 2023
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| Settlement date: | Jan. 31, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17331C3K1
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