New York, March 15 – Citigroup Global Markets Holdings Inc. priced $360,000 of autocallable contingent coupon equity linked securities due July 6, 2026 linked to the common stocks of FedEx Corp. and Southwest Airlines Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.75% paid quarterly 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 Oct. 2, 2023 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent 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: | FedEx Corp. and Southwest Airlines Co.
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| Amount: | $360,000
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| Maturity: | July 6, 2026
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| Coupon: | 16.75% paid quarterly 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 starting Oct. 2, 2023 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent quarterly valuation date
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| Initial levels: | $247.90 for FedEx Corp., $36.21 for Southwest Airlines Co.
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| Coupon barriers: | $173.530 for FedEx Corp., $25.347 for Southwest Airlines Co., 70% of initial levels
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| Final barriers: | $173.530 for FedEx Corp., $25.347 for Southwest Airlines Co., 70% of initial levels
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| Pricing date: | June 30, 2023
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| Settlement date: | July 6, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17291RSL7
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