Published on 10/14/2023 in the Prospect News Structured Products Daily.
New Issue: Citi sells $661,000 autocallable variable coupon market-linked notes on four stocks
By Kiku Steinfeld
Chicago, Oct. 16 – Citigroup Global Markets Holdings Inc. priced $661,000 of autocallable variable coupon market-linked notes due March 30, 2028 tied to the worst performing of Advanced Micro Devices, Inc., DocuSign, Inc., Home Depot, Inc. and Nvidia Corp., according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a monthly coupon at a variable rate.
If each stock closes at or above its coupon barrier, 100% of the initial level, on the corresponding monthly review date, the payable coupon will be the equivalent of approximately 8.4% per year. If any stock closes below its coupon barrier, the equivalent annual rate will be 3%.
If each stock closes at or above its initial level on any monthly valuation date after one year, the notes will be automatically called at par plus the coupon.
The payout at maturity will be par plus the relevant coupon.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable variable coupon market-linked notes
|
| Underlying stocks: | Advanced Micro Devices, Inc., DocuSign, Inc., Home Depot, Inc. and Nvidia Corp.
|
| Amount: | $661,000
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| Maturity: | March 30, 2028
|
| Coupon: | Variable, payable monthly; if each stock closes at or above its coupon barrier on the corresponding monthly review date, the coupon will be equivalent to 8.4% per year; if any stock closes below its coupon barrier, the coupon will be 3% annualized
|
| Price: | Par
|
| Payout at maturity: | Par plus the relevant coupon
|
| Call: | Automatically at par plus coupon if each stock closes at or above its initial level on any monthly valuation date after one year
|
| Initial levels: | $96.61 for AMD, $281.27 for Home Depot, $57.17 for DocuSign, $265.31 for Nvidia
|
| Coupon barriers: | $96.61 for AMD, $281.27 for Home Depot, $57.17 for DocuSign, $265.31 for Nvidia; 100% of initial levels
|
| Pricing date: | March 27, 2023
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| Settlement date: | March 30, 2023
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.75%
|
| Cusip: | 17331HCT1
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