Published on 11/6/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.14 million contingent coupon equity linked autocalls on three stocks
New York, Nov. 6 – Citigroup Global Markets Holdings Inc. priced $1.14 million of autocallable contingent coupon equity linked securities due Oct. 29, 2025 linked to the common stocks of Alphabet Inc., Amazon.com, Inc. and Home Depot, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12%, 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 if the closing price of the worst performing stock is greater than or equal to its initial price on any monthly valuation date starting Jan. 25, 2024.
If the worst performing stock finishes at or above its 60% 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 that stock’s initial level 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: | Alphabet Inc., Amazon.com, Inc. and Home Depot, Inc.
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| Amount: | $1,144,000
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| Maturity: | Oct. 29, 2025
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| Coupon: | 12%, 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; otherwise, receive a number of shares of the 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 monthly valuation date starting Jan. 25, 2024
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| Initial levels: | $124.08 for Alphabet Inc., $133.09 for Amazon.com, Inc., $284.69 for Home Depot, Inc.
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| Coupon barriers: | $74.448 for Alphabet Inc., $79.854 for Amazon.com, Inc., $170.814 for Home Depot, Inc., 60% of initial levels
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| Final barriers: | $74.448 for Alphabet Inc., $79.854 for Amazon.com, Inc., $170.814 for Home Depot, Inc., 60% of initial levels
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| Equity ratios: | 8.05932 for Alphabet Inc., 7.51371 for Amazon.com, Inc., 3.51259 for Home Depot, Inc., shares delivered per security
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| Pricing date: | Oct. 31
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| Settlement date: | Nov. 2
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17331ALF6
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