Published on 2/14/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $2.19 million contingent coupon equity linked autocalls on four stocks
New York, Feb. 14 – Citigroup Global Markets Holdings Inc. priced $2.19 million of autocallable contingent coupon equity linked securities due Feb. 14, 2028 linked to the common stocks of Amazon.com, Inc., JPMorgan Chase & Co., Paycom Software, Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16% per year, paid monthly, if the worst performing stock closes at or above its 50% coupon barrier on the related valuation date, plus any previously unpaid coupons.
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 monthly valuation date starting Aug. 9, 2023.
If the worst performing stock finishes at or above its 50% final barrier, the payout at maturity will be par. Otherwise, investors will lose 1% loss for every 1% that the worst performing stock declines from its initial level.
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., JPMorgan Chase & Co., Paycom Software, Inc. and Tesla, Inc.
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Amount: | $2,194,000
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Maturity: | Feb. 14, 2028
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Coupon: | 16% per year, paid monthly if the worst performing stock closes at or above its 50% 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; otherwise, 1% loss for every 1% that worst performing stock declines from initial level
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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 monthly valuation date starting Aug. 9, 2023
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Initial levels: | $98.24 for Amazon.com, Inc., $140.42 for JPMorgan Chase & Co., $322.48 for Paycom Software, Inc., $207.32 for Tesla, Inc.
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Coupon barriers: | $49.120 for Amazon.com, Inc., $70.210 for JPMorgan Chase & Co., $161.240 for Paycom Software, Inc., $103.660 for Tesla, Inc., 50% of initial levels
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Final barriers: | $49.120 for Amazon.com, Inc., $70.210 for JPMorgan Chase & Co., $161.240 for Paycom Software, Inc., $103.660 for Tesla, Inc., 50% of initial levels
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Pricing date: | Feb. 9
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Settlement date: | Feb. 14
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4%
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Cusip: | 17331CKG1
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