Published on 4/21/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $950,000 14.7% autocallable contingent coupon notes on three stocks
By Kiku Steinfeld
Chicago, April 22 – Citigroup Global Markets Holdings Inc. priced $950,000 of autocallable contingent coupon equity linked securities due July 30, 2026 linked to the common stocks of Advanced Micro Devices, Inc., Bank of America Corp. and Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.7% paid quarterly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date.
The securities will be called at par on any quarterly valuation date if each stock closes at or above 90% of its initial level.
If the worst performing stock finishes at or above its 60% 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: | Advanced Micro Devices, Inc., Bank of America Corp. and Intel Corp.
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| Amount: | $950,000
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| Maturity: | July 30, 2026
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| Coupon: | 14.7% paid quarterly 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; 1% loss for every 1% that worst performing stock declines if it ends below final barrier
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| Call: | Automatically at par on any quarterly valuation date if each stock closes at or above 90% of its initial level
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| Initial levels: | $111.10 for Advanced Micro Devices, Inc., $31.95 for Bank of America Corp., $34.55 for Intel Corp.
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| Coupon barriers: | $66.660 for Advanced Micro Devices, Inc., $19.170 for Bank of America Corp., $20.730 for Intel Corp., 60% of initial levels
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| Final barriers: | $66.660 for Advanced Micro Devices, Inc., $19.170 for Bank of America Corp., $20.730 for Intel Corp., 60% 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: | 3.45%
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| Cusip: | 17291RXK3
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