Published on 7/6/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.09 million contingent coupon equity linked autocalls on three stocks
New York, July 6 – Citigroup Global Markets Holdings Inc. priced $3.09 million of autocallable contingent coupon equity linked securities due June 27, 2025 linked to the common stocks of Alphabet Inc., Amazon.com, Inc. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12%, 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 Sept. 25.
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: | Alphabet Inc., Amazon.com, Inc. and JPMorgan Chase & Co.
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| Amount: | $3,085,000
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| Maturity: | June 27, 2025
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| Coupon: | 12%, 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 its 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 Sept. 25
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| Initial levels: | $119.70 for Alphabet Inc., $130.36 for Amazon.com, Inc., $145.44 for JPMorgan Chase & Co.
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| Coupon barriers: | $71.820 for Alphabet Inc., $78.216 for Amazon.com, Inc., $87.264 for JPMorgan Chase & Co., 60% of initial levels
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| Final barriers: | $71.820 for Alphabet Inc., $78.216 for Amazon.com, Inc., $87.264 for JPMorgan Chase & Co., 60% of initial levels
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| Equity ratios: | 8.35422 for Alphabet Inc., 7.67106 for Amazon.com, Inc., 6.87569 for JPMorgan Chase & Co., 60% of initial levels
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| Pricing date: | June 30
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| Settlement date: | July 5
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17331AFF3
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