Published on 4/4/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.08 million callable contingent coupon equity linked securities on S&P
New York, April 4 – Citigroup Global Markets Holdings Inc. priced $1.08 million of callable contingent coupon equity linked securities due March 28, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8% per year, paid monthly, if the index closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called at par on any monthly review date starting Sept. 25, 2023.
The payout at maturity will be par if the index ends at or above its 70% final barrier. Otherwise, investors will lose 1% for every 1% that the 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 index: | S&P 500 index
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Amount: | $1,075,000
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Maturity: | March 28, 2024
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Coupon: | 8% per year, paid monthly if the 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 index finishes at or above final barrier, par; otherwise, 1% loss for every 1% that index declines from initial level
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Call option: | At par on any monthly review date starting Sept. 25, 2023
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Initial level: | 3,970.99
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Coupon barrier: | 2,779.693, 70% of initial level
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Final barrier: | 2,779.693, 70% of initial level
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Pricing date: | March 24
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Settlement date: | March 29
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.65%
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Cusip: | 17331HDV5
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