Published on 2/13/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $598,000 autocallable contingent coupon equity notes on three stocks
Chicago, Feb. 13 – Citigroup Global Markets Holdings Inc. priced $598,000 of autocallable contingent coupon equity-linked securities due May 30, 2025 linked to the worst performing of the stocks of Amazon.com, Inc., Apple Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 18.75% paid monthly if the worst performing stock closes at or above its 50% coupon barrier on the related valuation date.
The securities will be called automatically starting after six months if the price of the worst performing stock is greater than or equal to its initial price on a monthly 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: | Amazon.com, Inc., Apple Inc. and Tesla, Inc
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| Amount: | $598,000
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| Maturity: | May 30, 2025
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| Coupon: | 18.75% annual rate, paid monthly if the worst performing stock closes at or above its 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 starting after six months if the price of the worst performing stock is greater than or equal to its initial price on a monthly valuation date
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| Initial levels: | $120.11 for Amazon, $175.43 for Apple, $193.17 for Tesla
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| Coupon barriers: | $60.055 for Amazon, $87.715 for Apple, $96.585 for Tesla, 50% of initial levels
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| Final barriers: | $60.055 for Amazon, $87.715 for Apple, $96.585 for Tesla, 50% of initial levels
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| Pricing date: | May 26, 2023
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| Settlement date: | June 1, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
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| Cusip: | 17331HNF9
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