Published on 4/17/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.05 million 17.15% contingent coupon autocallables linked to stocks
New York, April 17 – Citigroup Global Markets Holdings Inc. priced $2.05 million of autocallable contingent coupon equity linked securities due July 22, 2026 linked to the common stocks of Applied Materials, Inc., D.R. Horton, Inc. and Schlumberger Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17.15% paid monthly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities will be called automatically starting July 17, 2024 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent quarterly valuation date.
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: | Applied Materials, Inc., D.R. Horton, Inc. and Schlumberger Ltd.
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| Amount: | $2.05 million
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| Maturity: | July 22, 2026
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| Coupon: | 17.15% paid monthly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date, plus any previously unpaid coupons
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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, 2024 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent quarterly valuation date
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| Initial levels: | $145.50 for Applied Materials, Inc., $128.05 for D.R. Horton, Inc., $56.51 for Schlumberger Ltd.
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| Coupon barriers: | $87.300 for Applied Materials, Inc., $76.830 for D.R. Horton, Inc., $33.906 for Schlumberger Ltd., 60% of initial levels
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| Final barriers: | $87.300 for Applied Materials, Inc., $76.830 for D.R. Horton, Inc., $33.906 for Schlumberger Ltd., 60% of initial levels
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| Pricing date: | July 17, 2023
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| Settlement date: | July 20, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17291RP71
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