Published on 1/8/2024 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.13 million contingent coupon equity linked autocalls on three tech stocks
New York, Jan. 8 – Citigroup Global Markets Holdings Inc. priced $1.13 million of autocallable contingent coupon equity linked securities due Jan. 2, 2026 linked to the common stocks of Amazon.com, Inc., Apple Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.65%, 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 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 starting June 28, 2024.
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: | Amazon.com, Inc., Apple Inc. and Microsoft Corp.
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| Amount: | $1.13 million
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| Maturity: | Jan. 2, 2026
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| Coupon: | 12.65%, 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; otherwise, 1% loss for every 1% that worst performing stock declines from initial level
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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 starting June 28, 2024
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| Initial levels: | $153.38 for Amazon.com, Inc., $193.58 for Apple Inc., $375.28 for Microsoft Corp.
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| Coupon barriers: | $92.028 for Amazon.com, Inc., $116.148 for Apple Inc., $225.168 for Microsoft Corp., 60% of initial levels
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| Final barriers: | $92.028 for Amazon.com, Inc., $116.148 for Apple Inc., $225.168 for Microsoft Corp., 60% of initial levels
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| Pricing date: | Dec. 28
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| Settlement date: | Jan. 3
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 17291TMP0
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