Published on 1/21/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $695,000 21.25% autocallable contingent coupon notes on three stocks
By Kiku Steinfeld
Chicago, Jan. 21 – Citigroup Global Markets Holdings Inc. priced $695,000 of autocallable contingent coupon equity linked securities due June 5, 2025 linked to the common stocks of Amazon.com, Inc., Shopify Inc. and Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 21.25% paid monthly if the worst performing stock closes at or above its 50% coupon barrier on the related valuation date.
The securities will be called automatically starting Dec. 4, 2023 if the price of the worst performing stock is greater than or equal to its initial price on a monthly valuation date.
If the worst performing stock finishes at or above its 50% 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: | Amazon.com, Inc., Shopify Inc. and Walt Disney Co.
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Amount: | $695,000
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Maturity: | June 5, 2025
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Coupon: | 21.25% paid monthly if the worst performing stock closes at or above its 50% 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 Dec. 4, 2023 if the price of the worst performing stock is greater than or equal to its initial price on a monthly valuation date
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Initial levels: | $120.58 for Amazon.com, Inc., $57.19 for Shopify Inc., $87.96 for Walt Disney Co.
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Coupon barriers: | $60.290 for Amazon.com, Inc., $28.595 for Shopify Inc., $43.980 for Walt Disney Co., 50% of initial levels
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Final barriers: | $60.290 for Amazon.com, Inc., $28.595 for Shopify Inc., $43.980 for Walt Disney Co., 50% of initial levels
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Pricing date: | June 2, 2023
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Settlement date: | June 7, 2023
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.1%
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Cusip: | 17291R7L0
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