Published on 3/26/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.02 million contingent coupon equity linked autocalls on three stocks
New York, March 26 – Citigroup Global Markets Holdings Inc. priced $1.02 million of autocallable contingent coupon equity linked securities due March 30, 2027 linked to the common stocks of Apple Inc., Starbucks Corp. and Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 18.2%, paid quarterly, if the worst performing stock closes at or above its 70% coupon barrier on the related valuation date, plus any previously unpaid coupons.
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.
If the worst performing stock finishes at or above its 70% 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: | Apple Inc., Starbucks Corp. and Wynn Resorts, Ltd.
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| Amount: | $1.02 million
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| Maturity: | March 30, 2027
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| Coupon: | 18.2%, paid quarterly if the worst performing stock closes at or above its 70% 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; 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
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| Initial levels: | $178.67 for Apple Inc., $92.60 for Starbucks Corp., $100.08 for Wynn Resorts, Ltd.
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| Coupon barriers: | $125.069 for Apple Inc., $64.820 for Starbucks Corp., $70.056 for Wynn Resorts, Ltd., 70% of initial levels
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| Final barriers: | $125.069 for Apple Inc., $64.820 for Starbucks Corp., $70.056 for Wynn Resorts, Ltd., 70% of initial levels
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| Strike date: | March 20
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| Pricing date: | March 21
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| Settlement date: | March 28
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17331AB67
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