Published on 4/21/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $500,000 9.85% autocallable contingent coupon notes on three stocks
By Kiku Steinfeld
Chicago, April 22 – Citigroup Global Markets Holdings Inc. priced $500,000 of autocallable contingent coupon equity linked securities due July 30, 2026 linked to the common stocks of Apple Inc., Microsoft Corp. and Qualcomm Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.85% paid monthly if the worst performing stock closes at or above its 65% coupon barrier on the related valuation date.
The securities will be called automatically starting Jan. 29, 2024 on any monthly valuation date if each stock closes at or above 85% of its initial level.
If the worst performing stock finishes at or above its 65% 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: | Apple Inc., Microsoft Corp. and Qualcomm Inc.
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| Amount: | $500,000
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| Maturity: | July 30, 2026
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| Coupon: | 9.85% paid monthly if the worst performing stock closes at or above its 65% 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 Jan. 29, 2024 on any monthly valuation date if each stock closes at or above 85% of its initial level
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| Initial levels: | $193.22 for Apple Inc., $330.72 for Microsoft Corp., $125.85 for Qualcomm Inc.
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| Coupon barriers: | $125.593 for Apple Inc., $214.968 for Microsoft Corp., $81.803 for Qualcomm Inc., 65% of initial levels
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| Final barriers: | $125.593 for Apple Inc., $214.968 for Microsoft Corp., $81.803 for Qualcomm Inc., 65% of initial levels
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| Pricing date: | July 27, 2023
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| Settlement date: | Aug. 1, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17291RYM8
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