Published on 11/18/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $657,000 7.1% callable contingent coupon notes on three indexes
By Kiku Steinfeld
Chicago, Nov. 18 – Citigroup Global Markets Holdings Inc. priced $657,000 of callable contingent coupon equity linked securities due March 19, 2027 linked to the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.1% paid monthly 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 16, 2023 at par and on any subsequent quarterly review date if each index closes at or above its initial level
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: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $657,000
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| Maturity: | March 19, 2027
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| Coupon: | 7.1% paid monthly 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 16, 2023 at par and on any subsequent quarterly review date if each index closes at or above its initial level
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| Initial levels: | 34,063.10 for Dow, 13,956.79 for Nasdaq, 2,030.720 for Russell
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| Coupon barriers: | 23,844.170 for Dow, 9,769.753 for Nasdaq, 1,421.504 for Russell, 70% of initial levels
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| Final barriers: | 22,141.015 for Dow, 9,071.914 for Nasdaq, 1,319.968 for Russell, 65% of initial levels
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| Pricing date: | March 16
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| Settlement date: | March 21
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17330AV82
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