Published on 9/28/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.58 million contingent coupon equity linked autocalls on four stocks
New York, Sept. 28 – Citigroup Global Markets Holdings Inc. priced $1.58 million of autocallable contingent coupon equity linked securities due Sept. 27, 2028 linked to the stock performance of Advanced Micro Devices, Inc., Airbnb, Inc., Paycom Software, Inc. and Charles Schwab Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17%, 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 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 March 22, 2024.
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.
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: | Advanced Micro Devices, Inc., Airbnb, Inc., Paycom Software, Inc. and Charles Schwab Corp.
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| Amount: | $1,584,000
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| Maturity: | Sept. 27, 2028
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| Coupon: | 17%, 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; 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 March 22, 2024
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| Initial levels: | $96.20 for Advanced Micro Devices, Inc., $132.20 for Airbnb, Inc., $257.16 for Paycom Software, Inc., $55.15 for Charles Schwab Corp.
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| Coupon barriers: | $57.720 for Advanced Micro Devices, Inc., $79.320 for Airbnb, Inc., $154.296 for Paycom Software, Inc., $33.090 for Charles Schwab Corp., 60% of initial levels
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| Final barriers: | $48.100 for Advanced Micro Devices, Inc., $66.100 for Airbnb, Inc., $128.580 for Paycom Software, Inc., $27.575 for Charles Schwab Corp., 50% of initial levels
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| Pricing date: | Sept. 22
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| Settlement date: | Sept. 27
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4%
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| Cusip: | 17291QSB1
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