Published on 2/14/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $600,000 9.05% autocallable contingent coupon notes on stocks
Chicago, Feb. 14 – Citigroup Global Markets Holdings Inc. priced $600,000 of autocallable contingent coupon equity-linked securities due April 3, 2025 linked to the worst performing of the common stocks of Berkshire Hathaway Inc., Costco Wholesale Corp. and Charles Schwab Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.05% paid monthly if the worst performing stock closes at or above its 70% coupon barrier on the related valuation date.
The securities will be called automatically starting April 1, 2024 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent monthly valuation date.
If the worst performing stock finishes at or above its 65% 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: | Berkshire Hathaway Inc., Costco Wholesale Corp. and Charles Schwab Corp.
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| Amount: | $600,000
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| Maturity: | April 3, 2025
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| Coupon: | 9.05% annual rate, paid monthly if the worst performing stock closes at or above its 70% 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 at par starting April 1, 2024 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent monthly valuation date
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| Initial levels: | $356.66 for Berkshire, $660.08 for Costco, $68.80 for Schwab
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| Coupon barriers: | $249.662 for Berkshire, $462.056 for Costco, $48.160 for Schwab, 70% of initial levels
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| Final barriers: | $231.829 for Berkshire, $429.052 for Costco, $44.720 for Schwab, 65% of initial levels
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| Pricing date: | Dec. 29, 2023
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| Settlement date: | Jan. 4, 2024
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.4%
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| Cusip: | 17291TT73
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