Published on 1/29/2024 in the Prospect News Structured Products Daily.
New Issue: Citi prices $2.44 million contingent coupon equity linked autocalls on two stocks
New York, Jan. 29 – Citigroup Global Markets Holdings Inc. priced $2.44 million of autocallable contingent coupon equity linked securities due Jan. 22, 2027 linked to the common stocks of Caterpillar Inc. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.65%, paid quarterly, if the worst performing stock closes at or above its 70% 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 starting July 19, 2024.
If the worst performing stock finishes at or above its 70% 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: | Caterpillar Inc. and JPMorgan Chase & Co.
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Amount: | $2,435,000
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Maturity: | Jan. 22, 2027
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Coupon: | 11.65%, paid quarterly if the worst performing stock closes at or above its 70% 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 quarterly valuation date starting July 19, 2024
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Initial levels: | $285.28 for Caterpillar Inc., $170.31 for JPMorgan Chase & Co.
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Coupon barriers: | $199.696 for Caterpillar Inc., $119.217 for JPMorgan Chase & Co., 70% of initial levels
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Final barriers: | $199.696 for Caterpillar Inc., $119.217 for JPMorgan Chase & Co., 70% of initial levels
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Pricing date: | Jan. 19
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Settlement date: | Jan. 24
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.5%
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Cusip: | 17291TWM6
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