Published on 4/17/2024 in the Prospect News Structured Products Daily.
New Issue: Citi prices $3.87 million 11.4% autocallable equity linked securities on three stocks
New York, April 17 – Citigroup Global Markets Holdings Inc. priced $3.87 million of 11.4% autocallable equity linked securities due April 2, 2026 linked to the common stocks of Amazon.com, Inc., Caterpillar Inc. and Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid quarterly.
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.
The payout at maturity will be par if the worst performing stock ends at or above its 60% final barrier.
Otherwise, investors will receive a number of shares of the worst performing stock 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 equity linked securities
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| Underlying stocks: | Amazon.com, Inc., Caterpillar Inc. and Goldman Sachs Group, Inc.
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| Amount: | $3,872,000
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| Maturity: | April 2, 2026
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| Coupon: | 11.4%, paid quarterly
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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 worst performing stock equal to that stock’s 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 quarterly valuation date
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| Initial levels: | $180.38 for Amazon.com, Inc., $366.43 for Caterpillar Inc., $417.69 for Goldman Sachs Group, Inc.
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| Final barriers: | $108.228 for Amazon.com, Inc., $219.858 for Caterpillar Inc., $250.614 for Goldman Sachs Group, Inc., 60% of initial levels
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| Equity ratios: | 5.54385 for Amazon.com, Inc., 2.72903 for Caterpillar Inc., 2.39412 for Goldman Sachs Group, Inc., shares delivered per security
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| Pricing date: | March 28
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| Settlement date: | April 3
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17331ASF9
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