Published on 5/12/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.35 million 16.1% callable contingent coupon notes on Alphabet, Amazon, Intel
New York, May 12 – Citigroup Global Markets Holdings Inc. priced $3.35 million of callable contingent coupon equity linked securities due May 13, 2024 linked to the common stocks of Alphabet Inc., Amazon.com, Inc. and Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.1% paid monthly if the worst performing stock closes at or above its 55% coupon barrier on the related valuation date.
The securities may be called starting Nov. 8, 2023 and on any subsequent monthly review date at par.
The payout at maturity will be par if the worst performing stock ends at or above its 55% 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., Amazon.com, Inc. and Intel Corp.
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Amount: | $3,347,000
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Maturity: | May 13, 2024
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Coupon: | 16.1% paid monthly if the worst performing stock closes at or above its 55% 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; 1% loss for every 1% that worst performing stock declines if it ends below final barrier
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Call: | Starting Nov. 8, 2023 and on any subsequent monthly review date at par
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Initial levels: | $107.77 for Alphabet Inc., $105.83 for Amazon.com, Inc., $30.77 for Intel Corp.
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Coupon barriers: | $59.274 for Alphabet Inc., $58.207 for Amazon.com, Inc., $16.924 for Intel Corp., 55% of initial levels
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Final barriers: | $59.274 for Alphabet Inc., $58.207 for Amazon.com, Inc., $16.924 for Intel Corp., 55% of initial levels
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Pricing date: | May 8
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Settlement date: | May 11
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17331HMB9
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