Published on 2/7/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $500,000 autocallable contingent coupon notes on Super Micro Computer
New York, Feb. 7 – Citigroup Global Markets Holdings Inc. priced $500,000 million of autocallable contingent coupon equity-linked securities due May 21, 2026, linked to the common stock of Super Micro Computer, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 26.5% per year paid quarterly if the stock closes at or above its 60% coupon barrier on the related valuation date.
The securities will be called automatically at par starting Nov. 20, 2023 if the level of the stock is greater than or equal to its initial level and on any subsequent quarterly valuation date.
If the 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 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 stock: | Super Micro Computer, Inc.
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| Amount: | $500,000
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| Maturity: | May 21, 2026
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| Coupon: | 26.5% annual rate, paid quarterly if the 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 stock finishes at or above final barrier, par; otherwise, 1% loss for every 1% that stock declines if it ends below final barrier
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| Call: | Automatically starting Nov. 20, 2023 if the level of the stock is greater than or equal to its initial level and on any subsequent monthly valuation date
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| Initial level: | $154.31
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| Coupon barrier: | $92.587, 60% of initial level
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| Final barrier: | $77.155, 50% of initial level
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| Strike date: | May 17, 2023
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| Pricing date: | May 18, 2023
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| Settlement date: | May 23, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
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| Cusip: | 17331HXR2
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