Published on 4/17/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.86 million contingent coupon equity linked autocalls on two stocks
New York, April 17 – Citigroup Global Markets Holdings Inc. priced $2.86 million of autocallable contingent coupon equity linked securities due April 16, 2026 linked to the common stocks of McDonald's Corp. and Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid quarterly, if the worst performing stock closes at or above its 55% 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 quarterly valuation date.
If the worst performing stock finishes at or above its 55% final barrier, the payout at maturity will be par.
Otherwise, investors will receive a number of shares of the worst performing stock 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: | McDonald's Corp. and Goldman Sachs Group, Inc.
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Amount: | $2,862,000
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Maturity: | April 16, 2026
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Coupon: | 9%, paid quarterly if the worst performing stock closes at or above its 55% 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, receive a number of shares of the worst performing stock per security 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 quarterly valuation date
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Initial levels: | $284.48 for McDonald's Corp., $327.37 for Goldman Sachs Group, Inc.
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Coupon barriers: | $156.464 for McDonald's Corp., $180.054 for Goldman Sachs Group, Inc., 55% of initial levels
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Final barriers: | $156.464 for McDonald's Corp., $180.054 for Goldman Sachs Group, Inc., 55% of initial levels
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Equity ratios: | 3.51519 for McDonald's Corp., 3.05465 for Goldman Sachs Group, Inc., shares delivered per security
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Pricing date: | April 11
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Settlement date: | April 14
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2%
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Cusip: | 17331AGN5
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