Published on 10/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.57 million 10% contingent coupon autocalls on JPMorgan, Microsoft, Walmart
New York, Oct. 10 – Citigroup Global Markets Holdings Inc. priced $3.57 million of autocallable contingent coupon equity linked securities due Sept. 29, 2025 linked to the common stocks of JPMorgan Chase & Co., Microsoft Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10% 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 Dec. 26 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent monthly valuation date.
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: | JPMorgan Chase & Co., Microsoft Corp. and Walmart Inc.
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| Amount: | $3,565,000
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| Maturity: | Sept. 29, 2025
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| Coupon: | 10% 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 Dec. 26 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent monthly valuation date
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| Initial levels: | $145.02 for JPMorgan Chase & Co., $315.75 for Microsoft Corp., $159.93 for Walmart Inc.
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| Coupon barriers: | $87.012 for JPMorgan Chase & Co., $189.450 for Microsoft Corp., $95.958 for Walmart Inc., 60% of initial levels
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| Final barriers: | $87.012 for JPMorgan Chase & Co., $189.450 for Microsoft Corp., $95.958 for Walmart Inc., 60% of initial levels
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 3
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17331AKE0
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