Published on 6/2/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.29 million 16.5% autocallable contingent coupon equity notes on stocks
Chicago, June 2 – Citigroup Global Markets Holdings Inc. priced $1.29 million of autocallable contingent coupon equity linked securities due May 29, 2025 linked to the worst performing of the common stocks of American Express Co., FedEx Corp. and Target Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.5% paid monthly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date.
The securities will be called automatically at par starting Aug. 25 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 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, payable in shares or cash at the issuer’s option.
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: | American Express Co., FedEx Corp. and Target Corp.
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| Amount: | $1,294,000
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| Maturity: | May 29, 2025
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| Coupon: | 16.5% annual rate, paid monthly if the worst performing 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 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 Aug. 25 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: | $158.56 for AmEx, $217.98 for FedEx, $130.93 for Target
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| Coupon barriers: | $95.136 for AmEx, $130.788 for FedEx, $78.558 for Target, 60% of initial levels
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| Final barriers: | $95.136 for AmEx, $130.788 for FedEx, $78.558 for Target, 60% of initial levels
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| Pricing date: | May 31
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| Settlement date: | June 2
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17331AES6
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