Published on 6/30/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $467,000 16.05% autocallable contingent coupon notes on three stocks
By Kiku Steinfeld
Chicago, June 30 – Citigroup Global Markets Holdings Inc. priced $467,000 of autocallable contingent coupon equity linked securities due Feb. 11, 2026 linked to the common stocks of Etsy, Inc., Target Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.05% paid monthly if the worst performing stock closes at or above its 50% coupon barrier level on the related valuation date, plus any previously unpaid coupons.
The securities will be called automatically s at par if the price of the worst performing stock is greater than or equal to its initial price on any quarterly valuation date.
If the worst performing stock finishes at or above its 50% final barrier level 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: | Etsy, Inc., Target Corp. and Walmart Inc.
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| Amount: | $467,000
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| Maturity: | Feb. 11, 2026
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| Coupon: | 16.05% paid monthly if the worst performing stock closes at or above its 50% coupon barrier level 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 level par; 1% loss for every 1% that worst performing stock declines if it ends below final barrier level
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| Call: | Automatically at par if the price of the worst performing stock is greater than or equal to its initial price on any quarterly valuation date
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| Initial levels: | $144.54 for Etsy, $173.84 for Target, $140.68 for Walmart
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| Coupon barrier level levels: | $72.270 for Etsy, $86.920 for Target, $70.340 for Walmart, 50% of initial levels
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| Final barrier level levels: | $72.270 for Etsy, $86.920 for Target, $70.340 for Walmart, 50% of initial levels
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| Pricing date: | Feb. 6, 2023
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| Settlement date: | Feb. 9, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17331CNF0
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