Published on 11/10/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $390,000 12% callable contingent coupon notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, Nov. 10 – Citigroup Global Markets Holdings Inc. priced $390,000 of callable contingent coupon equity linked securities due Sept. 14, 2023 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 a coupon of 12% 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 Sept. 12, 2022 at par and on any subsequent quarterly review date.
At maturity the payout will be par if all of the indexes never close below the 63% knock-in level during the life of the notes or the worst performing index ends above its initial level. Otherwise investors will be fully exposed to the decline of the worst performing index.
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: | $390,000
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| Maturity: | Sept. 14, 2023
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| Coupon: | 12% 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: | Par if all of the indexes never close below the knock-in level during the life of the notes or the worst performing index ends above its initial level, otherwise investors will be fully exposed to the decline in the worst performing index
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| Call: | Starting Sept. 12, 2022 at par and on any subsequent quarterly review date
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| Initial levels: | 13,301.83 for Nasdaq, 1,979.668 for Russell, 4,204.31 for S&P
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| Coupon barriers: | 9,311.281 for Nasdaq, 1,385.768 for Russell, 2,943.017 for S&P, 70% of initial levels
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| Knock-in levels: | 8,380.153 for Nasdaq, 1,247.191 for Russell, 2,648.715 for S&P, 63% of initial levels
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| Pricing date: | March 11
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| Settlement date: | March 16
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.725%
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| Cusip: | 17330AQL9
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