Published on 10/25/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.82 million contingent coupon equity linked autocalls on Amazon, Apple
New York, Oct. 25 – Citigroup Global Markets Holdings Inc. priced $1.82 million of autocallable contingent coupon equity linked securities due April 28, 2025 linked to the common stocks of Amazon.com, Inc. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.35%, paid quarterly, if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date, plus any previously unpaid coupons.
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 quarterly valuation date.
If the worst performing stock finishes at or above its 60% final barrier, the payout at maturity will be par. Otherwise, investors receive a number of shares of the worst performer equal to $1,000 divided by that stock’s initial price 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.
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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. and Apple Inc.
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| Amount: | $1,815,000
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| Maturity: | April 28, 2025
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| Coupon: | 11.35%, paid quarterly if the worst performing stock closes at or above its 60% 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; otherwise, receive a number of shares of the worst performer per security equal to that stock’s equity ratio or, at the issuer’s option, the cash equivalent
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| Call: | Automatically at par if the closing price of the worst performing stock is greater than or equal to its initial price on any quarterly valuation date
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| Initial levels: | $128.40 for Amazon.com, Inc., $175.46 for Apple Inc.
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| Coupon barriers: | $77.040 for Amazon.com, Inc., $105.276 for Apple Inc., 60% of initial levels
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| Final barriers: | $77.040 for Amazon.com, Inc., $105.276 for Apple Inc., 60% of initial levels
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| Equity ratios: | 7.78816 for Amazon.com, Inc., 5.6993 for Apple Inc., shares delivered per security
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| Pricing date: | Oct. 19
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| Settlement date: | Oct. 26
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17331AMK4
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