By Kiku Steinfeld
Chicago, Nov. 10 – Citigroup Global Markets Holdings Inc. priced $435,000 of autocallable contingent coupon equity linked securities due May 16, 2024 linked to the common stock of Charles Schwab Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 18%, paid monthly, if the stock closes at or above its 66% coupon barrier on the related valuation date.
The securities will be called automatically at par if the closing level of the stock is greater than or equal to its initial level on any monthly valuation date after six months.
If the stock finishes at or above its 66% final barrier, the payout at maturity will be par. Otherwise, investors will lose 1% loss for every 1% that the stock declines, payable in 19.33862 shares or cash at the issuer’s option.
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 stock: | Charles Schwab Corp.
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Amount: | $435,000
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Maturity: | May 16, 2024
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Coupon: | 18%, paid monthly if the stock closes at or above its 66% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | If stock finishes at or above final barrier, par; otherwise, 1% loss for every 1% that stock declines from initial level, payable in 19.33862 shares or cash at the issuer’s option.
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Call: | Automatically at par if the closing level of the stock is greater than or equal to its initial level on any monthly valuation date after six months
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Initial level: | $51.71
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Coupon barrier: | $34.129, 66% of initial level
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Final barrier: | $34.129, 66% of initial level
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Pricing date: | April 11, 2023
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Settlement date: | April 14, 2023
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2.15%
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Cusip: | 17331AGM7
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