Published on 11/6/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.25 million contingent coupon equity linked autocalls on three stocks
New York, Nov. 6 – Citigroup Global Markets Holdings Inc. priced $2.25 million of autocallable contingent coupon equity linked securities due Oct. 29, 2025 linked to the common stocks of Advanced Micro Devices, Inc., Meta Platforms, Inc. and Uber Technologies, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 20%, paid monthly, if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date.
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 Jan. 25, 2024.
If the worst performing stock finishes at or above its 50% final barrier, the payout at maturity will be par.
Otherwise, investors will receive a number of shares of the worst performer equal to $1,000 divided by that stock’s initial level or, at the issuer’s option, the cash equivalent.
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., Meta Platforms, Inc. and Uber Technologies, Inc.
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| Amount: | $2.25 million
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| Maturity: | Oct. 29, 2025
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| Coupon: | 20%, 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, receive a number of shares of the worst performer equal to its equity ratio or, at the issuer’s option, the cash equivalent
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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 Jan. 25, 2024
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| Initial levels: | $98.50 for Advanced Micro Devices, Inc., $301.27 for Meta Platforms, Inc., $43.28 for Uber Technologies, Inc.
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| Coupon barriers: | $59.100 for Advanced Micro Devices, Inc., $180.762 for Meta Platforms, Inc., $25.968 for Uber Technologies, Inc., 60% of initial levels
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| Final barriers: | $49.250 for Advanced Micro Devices, Inc., $150.635 for Meta Platforms, Inc., $21.640 for Uber Technologies, Inc., 50% of initial levels
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| Equity ratios: | 10.15228 for Advanced Micro Devices, Inc., 3.31928 for Meta Platforms, Inc., 23.10536 for Uber Technologies, Inc., shares delivered per security
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| Pricing date: | Oct. 31
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| Settlement date: | Nov. 2
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17331ARJ2
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