Published on 10/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.92 million 14.05% contingent coupon autocalls on Netflix, Charles Schwab
New York, Oct. 10 – Citigroup Global Markets Holdings Inc. priced $2.92 million of autocallable contingent coupon equity linked securities due April 2, 2025 linked to the common stocks of Netflix, Inc. and Charles Schwab Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.05% paid quarterly if the worst performing stock closes at or above its 50% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities will be called automatically starting Dec. 28 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent quarterly 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: | Netflix, Inc. and Charles Schwab Corp.
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| Amount: | $2,922,000
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| Maturity: | April 2, 2025
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| Coupon: | 14.05% paid quarterly if the worst performing stock closes at or above its 50% coupon barrier on the related valuation date, plus any previously unpaid coupons
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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. 28 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent quarterly valuation date
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| Initial levels: | $376.36 for Netflix, Inc., $54.55 for Charles Schwab Corp.
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| Coupon barriers: | $188.180 for Netflix, Inc., $27.275 for Charles Schwab Corp., 50% of initial levels
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| Final barriers: | $188.180 for Netflix, Inc., $27.275 for Charles Schwab Corp., 50% of initial levels
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| Pricing date: | Sept. 28
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| Settlement date: | Oct. 3
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17331AQL8
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