Published on 4/15/2024 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.1 million contingent coupon market-linked autocalls on three stocks
By William Gullotti
Buffalo, N.Y., April 15 – Citigroup Global Markets Holdings Inc. priced $1.1 million of 0% autocallable contingent coupon market-linked notes due April 14, 2031 linked to the stock performance of Pfizer Inc., Apple Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Investors will receive a contingent monthly coupon at an 11.15% annual rate if each stock closes at or above its 80% coupon barrier on the relevant observation date.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any quarterly valuation date after one year.
If the notes have not been called and each stock finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon. Otherwise, the payout will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon market-linked notes
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| Underlying stocks: | Apple Inc., Tesla, Inc., Pfizer Inc.
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| Amount: | $1,097,000
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| Maturity: | April 14, 2031
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| Coupon: | 11.15% per year, payable monthly if each stock closes at or above its coupon barrier on the corresponding observation date
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above coupon barrier, par plus final coupon; otherwise, par
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| Call: | Automatically at par plus the coupon if each stock closes at or above its initial level on any quarterly valuation date after one year
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| Initial levels: | $168.45 for Apple, $172.98 for Tesla, $26.58 for Pfizer
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| Coupon barriers: | $134.76 for Apple, $138.384 for Tesla, $21.264 for Pfizer; 80% of initial levels
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| Pricing date: | April 8
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| Settlement date: | April 11
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17291LL29
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