Published on 10/8/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $905,000 20.25% autocallable contingent coupon notes on tech stocks
By Kiku Steinfeld
Chicago, Oct. 9 – Citigroup Global Markets Holdings Inc. priced $905,000 of autocallable contingent coupon equity linked securities due March 27, 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 20.25% 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 starting March 25, 2024 if the price of the worst performing stock is greater than or equal to its initial price on a monthly valuation date.
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: | $905,000
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| Maturity: | March 27, 2025
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| Coupon: | 20.25% 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; 1% loss for every 1% that worst performing stock declines if it ends below final barrier
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| Call: | Automatically starting March 25, 2024 if the price of the worst performing stock is greater than or equal to its initial price on a monthly valuation date
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| Initial levels: | $98.71 for Amazon.com, Inc., $158.93 for Apple Inc., $192.22 for Tesla, Inc.
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| Coupon barriers: | $49.355 for Amazon.com, Inc., $79.465 for Apple Inc., $96.110 for Tesla, Inc., 50% of initial levels
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| Final barriers: | $49.355 for Amazon.com, Inc., $79.465 for Apple Inc., $96.110 for Tesla, Inc., 50% of initial levels
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| Pricing date: | March 23, 2023
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| Settlement date: | March 28, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
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| Cusip: | 17331CZL4
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