Published on 4/24/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $8.25 million 9% autocallable contingent coupon notes on Amazon, Visa
New York, April 24 – Citigroup Global Markets Holdings Inc. priced $8.25 million of autocallable contingent coupon equity linked securities due April 22, 2027 linked to the common stocks of Amazon.com, Inc. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9% paid quarterly if the worst performing stock closes at or above its 55.7% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities will be called automatically starting July 18 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent quarterly valuation date.
If the worst performing stock finishes at or above its 55.7% 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. and Visa Inc.
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| Amount: | $8,253,000
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| Maturity: | April 22, 2027
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| Coupon: | 9% paid quarterly if the worst performing stock closes at or above its 55.7% 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; 1% loss for every 1% that worst performing stock declines if it ends below final barrier
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| Call: | Automatically starting July 18 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent quarterly valuation date
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| Initial levels: | $179.22 for Amazon.com, Inc., $271.37 for Visa Inc.
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| Coupon barriers: | $99.826 for Amazon.com, Inc., $151.153 for Visa Inc., 55.7% of initial levels
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| Final barriers: | $99.826 for Amazon.com, Inc., $151.153 for Visa Inc., 55.7% of initial levels
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| Pricing date: | April 18
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| Settlement date: | April 23
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17331ASG7
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