Published on 4/16/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.05 million contingent coupon equity linked autocalls on three stocks
New York, April 16 – Citigroup Global Markets Holdings Inc. priced $2.05 million of autocallable contingent coupon equity linked securities due April 14, 2026 linked to the stock performance of Advanced Micro Devices, Inc., Eli Lilly and Co. and PulteGroup, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 20%, paid quarterly, if the worst performing stock closes at or above its 60% 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 starting Oct. 9, 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: | Advanced Micro Devices, Inc., Eli Lilly and Co. and PulteGroup, Inc.
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| Amount: | $2,045,000
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| Maturity: | April 14, 2026
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| Coupon: | 20%, paid quarterly if the worst performing stock closes at or above its 60% 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 starting Oct. 9, 2024
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| Initial levels: | $170.78 for Advanced Micro Devices, Inc., $757.24 for Eli Lilly and Co., $115.39 for PulteGroup, Inc.
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| Coupon barriers: | $102.468 for Advanced Micro Devices, Inc., $454.344 for Eli Lilly and Co., $69.234 for PulteGroup, Inc., 60% of initial levels
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| Final barriers: | $102.468 for Advanced Micro Devices, Inc., $454.344 for Eli Lilly and Co., $69.234 for PulteGroup, Inc., 60% of initial levels
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| Pricing date: | April 9
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| Settlement date: | April 12
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17331AN49
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