Published on 1/8/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.03 million contingent coupon equity linked autocalls on three stocks
New York, Jan. 8 – Citigroup Global Markets Holdings Inc. priced $3.03 million of autocallable contingent coupon equity linked securities due Dec. 30, 2025 linked to the common stocks of Amazon.com, Inc., JPMorgan Chase & Co. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, 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 March 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: | Amazon.com, Inc., JPMorgan Chase & Co. and Walmart Inc.
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| Amount: | $3,029,000
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| Maturity: | Dec. 30, 2025
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| Coupon: | 10%, 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 that stock’s 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 March 25, 2024
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| Initial levels: | $151.94 for Amazon.com, Inc., $170.10 for JPMorgan Chase & Co., $157.65 for Walmart Inc.
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| Coupon barriers: | $91.164 for Amazon.com, Inc., $102.060 for JPMorgan Chase & Co., $94.590 for Walmart Inc., 60% of initial levels
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| Final barriers: | $91.164 for Amazon.com, Inc., $102.060 for JPMorgan Chase & Co., $94.590 for Walmart Inc., 60% of initial levels
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| Equity ratios: | 6.58155 for Amazon.com, Inc., 5.87889 for JPMorgan Chase & Co., 6.34317 for Walmart Inc., shares delivered per security
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| Pricing date: | Dec. 29
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| Settlement date: | Jan. 3
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17331ANA5
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