Published on 7/31/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $300,000 contingent coupon equity linked autocalls on Block, JPMorgan
New York, July 31 – Citigroup Global Markets Holdings Inc. priced $300,000 of autocallable contingent coupon equity linked securities due July 29, 2026 linked to the common stocks of Block, Inc. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.85%, 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 each stock closes at or above its call level, 90% of initial level, on any monthly valuation date starting Oct. 24.
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 from initial level.
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: | Block, Inc. and JPMorgan Chase & Co.
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| Amount: | $300,000
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| Maturity: | July 29, 2026
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| Coupon: | 11.85%, 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, 1% loss for every 1% that worst performing stock declines from initial level
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| Call: | Automatically at par if each stock closes at or above its call level, 90% of initial level, on any monthly valuation date starting Oct. 24
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| Initial levels: | $77.14 for Block, Inc., $158.00 for JPMorgan Chase & Co.
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| Coupon barriers: | $46.284 for Block, Inc., $94.800 for JPMorgan Chase & Co., 60% of initial levels
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| Final barriers: | $46.284 for Block, Inc., $94.800 for JPMorgan Chase & Co., 60% of initial levels
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| Call levels: | $69.426 for Block, Inc., $142.20 for JPMorgan Chase & Co., 90% of initial levels
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| Pricing date: | July 24
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| Settlement date: | July 27
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17291RW81
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