Published on 9/7/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.2 million contingent coupon equity linked autocalls on three stocks
New York, Sept. 7 – Citigroup Global Markets Holdings Inc. priced $1.20 million of autocallable contingent coupon equity linked securities due Aug. 27, 2025 linked to the common stocks of American Airlines Group Inc., Uber Technologies, Inc. and Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 23%, 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 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 Nov. 27.
If the worst performing stock finishes at or above its 60% final barrier, the payout at maturity will be par.
Otherwise, investors will receive a number of shares of the worst performer equal to $1,000 divided by that stock’s initial level or, at the issuer’s option, the cash equivalent.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity linked securities
|
| Underlying stocks: | American Airlines Group Inc., Uber Technologies, Inc. and Wynn Resorts, Ltd.
|
| Amount: | $1,198,000
|
| Maturity: | Aug. 27, 2025
|
| Coupon: | 23% paid monthly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing stock finishes at or above final barrier, par; otherwise, receive a number of shares of the worst performer equal to that stock’s equity ratio or, at the issuer’s option, the cash equivalent
|
| 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 Nov. 27
|
| Initial levels: | $14.73 for American Airlines Group Inc., $47.23 for Uber Technologies, Inc., $101.38 for Wynn Resorts, Ltd.
|
| Coupon barriers: | $8.838 for American Airlines Group Inc., $28.338 for Uber Technologies, Inc., $60.828 for Wynn Resorts, Ltd., 60% of initial levels
|
| Final barriers: | $8.838 for American Airlines Group Inc., $28.338 for Uber Technologies, Inc., $60.828 for Wynn Resorts, Ltd., 60% of initial levels
|
| Equity ratios: | 67.88866 for American Airlines Group Inc., 21.17298 for Uber Technologies, Inc., 9.86388 for Wynn Resorts, Ltd., share delivery per security
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 5
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.25%
|
| Cusip: | 17331AKL4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
