Published on 2/6/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $600,000 14.35% autocallable contingent coupon equity notes on stocks
Chicago, Feb. 6 – Citigroup Global Markets Holdings Inc. priced $600,000 of autocallable contingent coupon equity-linked securities due May 21, 2026 linked to the worst performing of the common stocks of Amazon.com, Inc., Deere & Co. and Target Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.35% paid monthly 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 starting Nov. 16, 2023 and on any subsequent monthly valuation date if all three stocks close above the 80% autocall barrier value on the related 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: | Amazon.com, Inc., Deere & Co. and Target Corp.
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| Amount: | $600,000
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| Maturity: | May 21, 2026
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| Coupon: | 14.35% annual rate, paid monthly 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 at par starting Nov. 16, 2023 and on any subsequent monthly valuation date if all three stocks close above 80% autocall barrier values
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| Initial levels: | $113.40 for Amazon, $362.68 for Deere, $156.91 for Target
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| Coupon barriers: | $68.040 for Amazon, $217.608 for Deere, $94.146 for Target, 60% of initial levels
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| Final barriers: | $68.040 for Amazon, $217.608 for Deere, $94.146 for Target, 60% of initial levels
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| Pricing date: | May 16, 2023
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| Settlement date: | May 19, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17331HFS0
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