Published on 10/16/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $845,000 11.85% autocallable contingent coupon notes on stocks
Chicago, Oct. 16 – Citigroup Global Markets Holdings Inc. priced $845,000 of autocallable contingent coupon equity linked securities due Oct. 10, 2025 linked to the worst performing of the common stocks of Bank of America Corp., Microsoft Corp. and Coca-Cola Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.85% paid quarterly if the worst performing stock closes at or above its 50% coupon barrier on the related valuation date.
The securities will be called automatically at par starting Jan. 9, 2023 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: | Bank of America Corp., Microsoft Corp. and Coca-Cola Co.
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| Amount: | $845,000
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| Maturity: | Oct. 10, 2025
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| Coupon: | 11.85% annual rate, paid quarterly 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 at par starting Jan. 9, 2023 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: | $30.75 for BofA, $234.24 for Microsoft, $54.51 for Coca-Cola
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| Coupon barriers: | $15.375 for BofA, $117.120 for Microsoft, $27.255 for Coca-Cola, 50% of initial levels
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| Final barriers: | $15.375 for BofA, $117.120 for Microsoft, $27.255 for Coca-Cola, 50% of initial levels
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| Pricing date: | Oct. 7, 2022
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| Settlement date: | Oct. 13, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17330RU29
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