Published on 11/18/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $880,000 7.1% callable contingent coupon equity notes on indexes
By Kiku Steinfeld
Chicago, Nov. 18 – Citigroup Global Markets Holdings Inc. priced $880,000 of callable contingent coupon equity linked securities due Dec. 21, 2023 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% per year, paid monthly if the worst performing index closes at or above its 50% coupon barrier on the related valuation date.
The securities may be called at par starting June 16 and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing index ends at or above its 50% 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: | $880,000
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Maturity: | Dec. 21, 2023
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Coupon: | 7.1% per year, paid monthly if the worst performing index closes at or above its 50% 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 June 16 at par and on any subsequent monthly review date
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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: | 17,031.550 for Dow, 6,978.395 for Nasdaq, 1,015.360 for Russell, 50% of initial levels
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Final barriers: | 17,031.550 for Dow, 6,978.395 for Nasdaq, 1,015.360 for Russell, 50% 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: | 0.65%
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Cusip: | 17330AVF6
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