Published on 1/25/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $275,000 autocallable contingent coupon equity notes on three stocks
By Kiku Steinfeld
Chicago, Jan. 25 – Citigroup Global Markets Holdings Inc. priced $275,000 of autocallable contingent coupon equity-linked securities due July 11, 2024 linked to the worst performing of the common stocks of Bank of America Corp., Berkshire Hathaway Inc. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.75% paid monthly if the worst performing stock closes at or above its 70% coupon barrier on the related valuation date.
The securities will be called automatically starting after three months if the price of the worst performing stock is greater than or equal to its initial price on a monthly valuation date.
If the worst performing stock finishes at or above its 65% 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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | Bank of America Corp., Berkshire Hathaway Inc. and Walmart Inc.
|
| Amount: | $275,000
|
| Maturity: | July 11, 2024
|
| Coupon: | 11.75% annual rate, paid monthly if the worst performing stock closes at or above its coupon barrier on the related valuation date
|
| Price: | Par
|
| 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
|
| Call: | Automatically starting after three months if the price of the worst performing stock is greater than or equal to its initial price on a monthly valuation date
|
| Initial levels: | $29.23 BofA, $333.41 for Berkshire, $149.78 for Walmart
|
| Coupon barriers: | $20.461 for BofA, $233.387 for Berkshire, $104.846 for Walmart, 70% of initial levels
|
| Final barriers: | $19 for BofA, $216.717 for Berkshire, $97.357 for Walmart, 65% of initial levels
|
| Pricing date: | June 6, 2023
|
| Settlement date: | June 9, 2023
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.35%
|
| Cusip: | 17291R4K5
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
