Published on 7/22/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $705,000 autocallable contingent coupon notes on three stocks
Chicago, July 24 – Citigroup Global Markets Holdings Inc. priced $705,000 of autocallable contingent coupon equity-linked securities due July 23, 2026 linked to the worst performing of the common stocks of Advance Auto Parts, Inc., Foot Locker, Inc. and Roblox Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 27% paid monthly if the worst performing stock closes at or above its 50% coupon barrier level on the related valuation date. Previously unpaid coupons will also be paid.
The securities will be called automatically s at par if the price of the worst performing stock is greater than or equal to its initial price on any quarterly valuation date starting after six months.
If the worst performing stock finishes at or above its 50% final barrier level 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: | Advance Auto Parts, Inc., Foot Locker, Inc. and Roblox Corp.
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| Amount: | $705,000
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| Maturity: | July 23, 2026
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| Coupon: | 27% annual rate, paid monthly if the worst performing stock closes at or above its 50% coupon barrier level on the related valuation date; previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above final barrier level par; 1% loss for every 1% that worst performing stock declines if it ends below final barrier level
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| Call: | Automatically at par if the price of the worst performing stock is greater than or equal to its initial price on any quarterly valuation date starting after six months
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| Initial levels: | $69.48 for Advance Auto, $25.33 for Foot Locker, $44.46 for Roblox
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| Coupon barrier levels: | $34.74 for Advance Auto, $12.66 for Foot Locker, $22.23 for Roblox, 50% of initial levels
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| Final barrier levels: | $34.74 for Advance Auto, $12.66 for Foot Locker, $22.23 for Roblox, 50% of initial levels
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| Strike date: | July 17
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| Pricing date: | July 18
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| Settlement date: | July 21
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17291RNN8
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