Published on 1/20/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.23 million contingent coupon equity linked autocalls on three stocks
New York, Jan. 20 – Citigroup Global Markets Holdings Inc. priced $1.23 million of autocallable contingent coupon equity linked securities due Jan. 23, 2025 linked to the common stocks of Amazon.com, Inc., Goldman Sachs Group, Inc. and lululemon athletica inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 21% per year, 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 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 starting July 17, 2023.
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 performing stock equal to $1,000 divided by its initial price 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: | Amazon.com, Inc., Goldman Sachs Group, Inc. and lululemon athletica inc.
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| Amount: | $1,225,000
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| Maturity: | Jan. 23, 2025
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| Coupon: | 21% per year, 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; otherwise, receive a number of shares of worst performing stock 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 quarterly valuation date starting July 17, 2023
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| Initial levels: | $96.05 for Amazon.com, Inc., $349.92 for Goldman Sachs Group, Inc., $323.82 for lululemon athletica inc.
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| Coupon barriers: | $57.630 for Amazon.com, Inc., $209.952 for Goldman Sachs Group, Inc., $194.292 for lululemon athletica inc., 60% of initial levels
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| Final barriers: | $57.630 for Amazon.com, Inc., $209.952 for Goldman Sachs Group, Inc., $194.292 for lululemon athletica inc., 60% of initial levels
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| Equity ratios: | 10.41124 for Amazon.com, Inc., 2.8578 for Goldman Sachs Group, Inc., 3.08814 for lululemon athletica inc., share delivery per security
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| Pricing date: | Jan. 17
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| Settlement date: | Jan. 20
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17331ABU4
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