Published on 11/7/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $873,000 16.45% callable contingent coupon notes on three stocks
By Kiku Steinfeld
Chicago, Nov. 7 – Citigroup Global Markets Holdings Inc. priced $873,000 of callable contingent coupon equity linked securities due April 10, 2025 linked to the common stocks of Amazon.com, Inc., Costco Wholesale Corp. and Target Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.45% paid monthly 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 may be called starting April 8, 2024 on a monthly review date.
The payout at maturity will be par if the worst performing stock ends at or above its 60% final barrier. Otherwise investors will lose 1% 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: | Callable contingent coupon equity linked securities
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| Underlying stocks: | Amazon.com, Inc., Costco Wholesale Corp. and Target Corp. and Walmart Inc.
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| Amount: | $873,000
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| Maturity: | April 10, 2025
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| Coupon: | 16.45% paid monthly 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; 1% loss for every 1% that worst performing stock declines if it ends below final barrier
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| Call: | Starting April 8, 2024 on a monthly review date
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| Initial levels: | $102.06 for Amazon.com, Inc., $485.98 for Costco Wholesale Corp., $165.58 for Target Corp., $150.80 for Walmart Inc.
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| Coupon barriers: | $61.236 for Amazon.com, Inc., $291.588 for Costco Wholesale Corp., $99.348 for Target Corp., $90.480 for Walmart Inc., 60% of initial levels
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| Final barriers: | $61.236 for Amazon.com, Inc., $291.588 for Costco Wholesale Corp., $99.348 for Target Corp., $90.480 for Walmart Inc., 60% of initial levels
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| Pricing date: | April 6, 2023
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| Settlement date: | April 12, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17331HNS1
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