New York, June 13 – Citigroup Global Markets Holdings Inc. priced $1.06 million of autocallable contingent coupon equity linked securities due June 5, 2025 linked to the common stocks of Berkshire Hathaway Inc. and Occidental Petroleum Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.2%, 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 automatically at par if the closing price of the worst performing stock is greater than or equal to its initial price on any quarterly valuation date starting Dec. 4, 2023.
If the worst performing stock finishes at or above its 50% 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: | Berkshire Hathaway Inc. and Occidental Petroleum Corp.
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| Amount: | $1,055,000
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| Maturity: | June 5, 2025
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| Coupon: | 10.2%, 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; otherwise, 1% loss for every 1% that worst performing stock declines from initial level
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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 quarterly valuation date starting Dec. 4, 2023
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| Initial levels: | $329.48 for Berkshire Hathaway Inc., $59.69 for Occidental Petroleum Corp.
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| Coupon barriers: | $197.688 for Berkshire Hathaway Inc., $35.814 for Occidental Petroleum Corp., 60% of initial levels
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| Final barriers: | $164.740 for Berkshire Hathaway Inc., $29.845 for Occidental Petroleum Corp., 50% of initial levels
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| Pricing date: | June 2
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| Settlement date: | June 7
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17291R3D2
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