Published on 7/25/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $347,000 contingent coupon equity linked autocalls on Amazon, Apple, Tesla
New York, July 25 – Citigroup Global Markets Holdings Inc. priced $347,000 of autocallable contingent coupon equity linked securities due July 24, 2025 linked to the common stocks of Amazon.com, Inc., Apple Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.5%, paid monthly, if the worst performing stock closes at or above its 50% coupon barrier on the related valuation date.
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 July 19, 2024.
If the worst performing stock finishes at or above its 50% 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: | Amazon.com, Inc., Apple Inc. and Tesla, Inc.
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| Amount: | $347,000
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| Maturity: | July 24, 2025
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| Coupon: | 16.5%, paid monthly if the worst performing stock closes at or above its 50% coupon barrier on the related valuation date
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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 July 19, 2024
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| Initial levels: | $135.36 for Amazon.com, Inc., $195.10 for Apple Inc., $291.26 for Tesla, Inc.
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| Coupon barriers: | $67.680 for Amazon.com, Inc., $97.550 for Apple Inc., $145.630 for Tesla, Inc., 50% of initial levels
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| Final barriers: | $67.680 for Amazon.com, Inc., $97.550 for Apple Inc., $145.630 for Tesla, Inc., 50% of initial levels
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| Pricing date: | July 19
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| Settlement date: | July 24
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
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| Cusip: | 17291RN73
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