Published on 5/22/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $500,000 12.65% autocallable contingent coupon notes on three stocks
By Kiku Steinfeld
Chicago, May 22 – Citigroup Global Markets Holdings Inc. priced $500,000 of autocallable contingent coupon equity linked securities due July 22, 2025 linked to the common stocks of Alphabet Inc., Apple Inc. and Home Depot, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.65% 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 starting July 17, 2023 at par and on any subsequent quarterly valuation date if each stock closes at or above 80% of its initial level.
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.
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., Apple Inc. and Home Depot, Inc.
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| Amount: | $500,000
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| Maturity: | July 22, 2025
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| Coupon: | 12.65% 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; 1% loss for every 1% that worst performing stock declines if it ends below final barrier
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| Call: | Automatically starting July 17, 2023 at par and on any subsequent quarterly valuation date if each stock closes at or above 80% of its initial level
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| Initial levels: | $88.42 for Alphabet, $130.73 for Apple Inc, $320.63 for Home Depot
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| Coupon barriers: | $53.052 for Alphabet, $78.438 for Apple $192.378 for Home Depot, 60% of initial levels
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| Final barriers: | $53.052 for Alphabet, $78.438 for Apple $192.378 for Home Depot, 60% of initial levels
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| Pricing date: | Jan. 17, 2023
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| Settlement date: | Jan. 20, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17331CBC0
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