Published on 2/7/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $2.13 million contingent coupon equity linked autocalls on two stocks
New York, Feb. 7 – Citigroup Global Markets Holdings Inc. priced $2.13 million of autocallable contingent coupon equity linked securities due Jan. 30, 2026 linked to the common stocks of UnitedHealth Group Inc. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8% per year, paid quarterly, if the worst performing stock closes at or above its 68% 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 68% final barrier, the payout at maturity will be par. Otherwise, investors will receive a number of shares of the worst performer equal to $1,000 divided by its initial price or, at the issuer’s option, the cash equivalent.
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: | UnitedHealth Group Inc. and Walmart Inc.
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| Amount: | $2,128,000
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| Maturity: | Jan. 30, 2026
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| Coupon: | 8% per year, paid quarterly if the worst performing stock closes at or above its 68% 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, receive a number of shares of worst performer equal to its equity ratio or, at the issuer’s option, the cash equivalent
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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: | $486.05 for UnitedHealth Group Inc., $143.30 for Walmart Inc.
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| Coupon barriers: | $330.514 for UnitedHealth Group Inc., $97.444 for Walmart Inc., 68% of initial levels
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| Final barriers: | $330.514 for UnitedHealth Group Inc., $97.444 for Walmart Inc., 68% of initial levels
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| Equity ratios: | 2.0574 for UnitedHealth Group Inc., 6.97837 for Walmart Inc., share delivery per security
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| Pricing date: | Jan. 27
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| Settlement date: | Feb. 1
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17331ACA7
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