Published on 7/21/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.86 million contingent coupon equity linked autocalls on three stocks
New York, July 21 – Citigroup Global Markets Holdings Inc. priced $2.86 million of autocallable contingent coupon equity linked securities due July 14, 2025 linked to the common stocks of Caesars Entertainment, Inc., Diamondback Energy, Inc. and NIKE, 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 55% 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 starting Jan. 8, 2024.
If the worst performing stock finishes at or above its 55% final barrier, the payout at maturity will be par. Otherwise, investors will lose 1% loss 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 contingent coupon equity linked securities
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| Underlying stocks: | Caesars Entertainment, Inc., Diamondback Energy, Inc. and NIKE, Inc.
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| Amount: | $2,861,000
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| Maturity: | July 14, 2025
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| Coupon: | 20%, paid quarterly if the worst performing stock closes at or above its 55% 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, 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 quarterly valuation date starting Jan. 8, 2024
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| Initial levels: | $49.16 for Caesars Entertainment, Inc., $132.40 for Diamondback Energy, Inc., $104.46 for NIKE, Inc.
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| Coupon barriers: | $27.038 for Caesars Entertainment, Inc., $72.820 for Diamondback Energy, Inc., $57.453 for NIKE, Inc., 55% of initial levels
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| Final barriers: | $27.038 for Caesars Entertainment, Inc., $72.820 for Diamondback Energy, Inc., $57.453 for NIKE, Inc., 55% of initial levels
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| Pricing date: | July 7
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| Settlement date: | July 14
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0%
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| Cusip: | 17291RNE8
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