Published on 10/24/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $11.23 million 11.61% callable contingent coupon notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 24 – Citigroup Global Markets Holdings Inc. priced $11.23 million of callable contingent coupon equity linked securities due March 25, 2025 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annualized coupon of 11.61% paid quarterly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called starting March 20, 2023 and on any subsequent quarterly review date.
The payout at maturity will be par if the worst performing index ends at or above its 65% final barrier. Otherwise investors will lose 1% for every 1% that the worst performing index 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 indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $11,226,000
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| Maturity: | March 25, 2025
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| Coupon: | 11.61% paid quarterly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above final barrier par; 1% loss for every 1% that worst performing index declines if it ends below final barrier
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| Call: | Starting March 20, 2023 and on any subsequent quarterly review date
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| Initial levels: | 11,851.54 for Nasdaq, 1,787.504 for Russell, 3,855.93 for S&P
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| Coupon barriers: | 8,296.078 for Nasdaq, 1,251.253 for Russell, 2,699.151 for S&P, 70% of initial levels
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| Final barriers: | 7,703.501 for Nasdaq, 1,161.878 f for Russell, 2,506.355 for S&P, 65% of initial levels
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| Pricing date: | Sept. 20
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| Settlement date: | Sept. 23
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17330RUX1
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