Published on 7/27/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $662,000 9.6% autocallable equity linked securities on three stocks
New York, July 27 – Citigroup Global Markets Holdings Inc. priced $662,000 of 9.6% autocallable equity linked securities due April 25, 2024 linked to the common stocks of Apple Inc., Bank of America Corp. and Berkshire Hathaway Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly.
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 Oct. 20.
The payout at maturity will be par if the worst performing stock ends at or above its 70% 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: | Apple Inc., Bank of America Corp. and Berkshire Hathaway Inc.
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| Amount: | $662,000
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| Maturity: | April 25, 2024
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| Coupon: | 9.6%, paid monthly
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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 Oct. 20
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| Initial levels: | $193.13 for Apple Inc., $31.69 for Bank of America Corp., $346.61 for Berkshire Hathaway Inc.
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| Final barriers: | $135.191 for Apple Inc., $22.183 for Bank of America Corp., $242.627 for Berkshire Hathaway Inc., 70% of initial levels
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| Pricing date: | July 20
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| Settlement date: | July 25
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17291RJD5
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