Published on 9/5/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.01 million callable contingent coupon equity linked securities on stocks
New York, Sept. 5 – Citigroup Global Markets Holdings Inc. priced $1.01 million of callable contingent coupon equity linked securities due Sept. 3, 2026 linked to the common stocks of Alphabet Inc., Bank of America Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 19.5%, paid monthly, if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date.
The securities may be called at par on any monthly review date starting Nov. 29.
The payout at maturity will be par if the worst performing stock ends at or above its 70% final barrier. Otherwise, investors will lose 1% 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: | Callable contingent coupon equity linked securities
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| Underlying stocks: | Alphabet Inc., Bank of America Corp. and Walmart Inc.
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| Amount: | $1,012,000
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| Maturity: | Sept. 3, 2026
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| Coupon: | 19.5%, 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; otherwise, 1% loss for every 1% that worst performing stock declines from initial level
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| Call option: | At par on any monthly review date starting Nov. 29
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| Initial levels: | $135.49 for Alphabet Inc., $29.17 for Bank of America Corp., $160.05 for Walmart Inc.
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| Coupon barriers: | $81.294 for Alphabet Inc., $17.502 for Bank of America Corp., $96.030 for Walmart Inc., 60% of initial levels
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| Final barriers: | $94.843 for Alphabet Inc., $20.419 for Bank of America Corp., $112.035 for Walmart Inc., 70% of initial levels
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| Pricing date: | Aug. 29
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| Settlement date: | Sept. 1
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17291QT38
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