Published on 8/15/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $715,000 15.55% autocallable contingent coupon equity notes on stocks
By Kiku Steinfeld
Chicago, Aug. 15 – Citigroup Global Markets Holdings Inc. priced $715,000 of autocallable contingent coupon equity linked securities due Feb. 27, 2026 linked to the common stocks of Alphabet Inc., Amazon.com, Inc. and Micron Technology, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15.55% paid monthly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date.
The securities will be called automatically starting Aug. 24, 2023 on a monthly valuation date if each stock closes at or above 85% of its initial level.
If the worst performing stock finishes at or above its 60% 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: | Alphabet Inc., Amazon.com, Inc. and Micron Technology, Inc.
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| Amount: | $715,000
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| Maturity: | Feb. 27, 2026
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| Coupon: | 15.55% paid monthly if the worst performing stock closes at or above its 60% 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; 1% loss for every 1% that worst performing stock declines if it ends below final barrier
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| Call: | Automatically starting Aug. 24, 2023 on monthly valuation date if each stock closes at or above 85% of its initial level
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| Initial levels: | $89.13 for Alphabet, $93.50 for Amazon.com, $58.18 for Micron Technology
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| Coupon barriers: | $53.478 for Alphabet, $56.100 for Amazon.com, $34.908 for Micron Technology, 60% of initial levels
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| Final barriers: | $53.478 for Alphabet, $56.100 for Amazon.com, $34.908 for Micron Technology, 60% of initial levels
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| Pricing date: | Feb. 24, 2023
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| Settlement date: | March 1, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17331CTT4
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