Published on 10/6/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $250,000 8.4% contingent coupon equity notes on indexes
By Kiku Steinfeld
Chicago, Oct. 6 – Citigroup Global Markets Holdings Inc. priced $250,000 of contingent coupon equity linked securities due March 26, 2026 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.4% paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The payout at maturity will be par if the worst performing index ends at or above its 70% 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: | Contingent coupon equity linked securities
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $250,000
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Maturity: | March 26, 2026
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Coupon: | 8.4% paid monthly if the worst performing index 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 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: | Non-callable
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Initial levels: | 1,727.358 for Russell, 3,936.97 for S&P
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Coupon barriers: | 1,209.151 for Russell, 2,755.879 for S&P, 70% of initial levels
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Final barriers: | 1,209.151 for Russell, 2,755.879 for S&P, 70% of initial levels
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Pricing date: | March 22, 2023
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Settlement date: | March 27, 2023
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17331HDF0
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