By Kiku Steinfeld
Chicago, April 17 – Citigroup Global Markets Holdings Inc. priced $515,000 of autocallable contingent coupon equity linked securities due June 17, 2024 linked to the common stocks of Target Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.5% paid quarterly if the worst performing stock closes at or above its 55% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities will be called automatically starting March 13, 2023 at par 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% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing stock declines, payable in shares or cash at the option of the issuer.
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: | Target Corp. and Walmart Inc.
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| Amount: | $515,000
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| Maturity: | June 17, 2024
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| Coupon: | 11.5% paid quarterly if the worst performing stock closes at or above its 55% 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, payable in shares or cash at the option of the issuer
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| Call: | Automatically starting March 13, 2023 at par 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: | $150.03 for Target, $148.02 for Walmart
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| Coupon barriers: | $82.517 for Target, $81.411 for Walmart, 55% of initial levels
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| Final barriers: | $82.517 for Target, $81.411 for Walmart, 55% of initial levels
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| Equity ratios: | 6.66533 for Target, 6.75584 for Walmart
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| Pricing date: | Dec. 12
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| Settlement date: | Dec. 15
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 17331ADD0
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