Published on 11/28/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $4.95 million callable contingent coupon equity linked securities on indexes
New York, Nov. 28 – Citigroup Global Markets Holdings Inc. priced $4.95 million of callable contingent coupon equity linked securities due Nov. 23, 2027 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.5% per year, payable semiannually, if the worst performing index closes at or above its 55% coupon barrier on the related valuation date.
The securities may be called at par on any semiannual determination date.
The payout at maturity will be par if the worst performing index ends at or above its 55% 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: | Russell 2000 index and S&P 500 index
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| Amount: | $4,954,000
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| Maturity: | Nov. 23, 2027
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| Coupon: | 8.5% per year, payable semiannually if the worst performing index closes at or above its 55% 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; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call option: | At par on any semiannual determination date
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| Initial levels: | 1,849.732 for Russell 2000 index, 3,965.34 for S&P 500 index
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| Coupon barriers: | 1,017.353 for Russell 2000 index, 2,180.937 for S&P 500 index, 55% of initial levels
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| Final barriers: | 1,017.353 for Russell 2000 index, 2,180.937 for S&P 500 index, 55% of initial levels
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| Pricing date: | Nov. 18
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| Settlement date: | Nov. 23
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17330YTL4
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