Published on 12/2/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $590,000 callable contingent coupon equity linked securities on indexes
Chicago, Dec. 2 – Citigroup Global Markets Holdings Inc. priced $590,000 of callable contingent coupon equity linked securities due March 21, 2025 linked to the worst performing of the Dow Jones industrial average, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.2% per year, paid monthly, if the worst performing index closes at or above its 65% coupon barrier on the related valuation date.
The securities may be called at par on any monthly review date starting after six months.
The payout at maturity will be par if the worst performing index ends at or above its 60% 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 S&P 500 index
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Amount: | $590,000
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Maturity: | March 21, 2025
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Coupon: | 7.2% per year, paid monthly if the worst performing index closes at or above its 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 monthly review date starting after six months
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Initial levels: | 34,754.93 for Dow, 14,420.08 for Nasdaq, 4,463.12 for S&P
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Coupon barriers: | 22,590.705 for Dow, 9,373.052 for Nasdaq, 2,901.028 for S&P, 65% of initial levels
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Final barriers: | 20,852.958 for Dow, 8,652.048 for Nasdaq2,677.872 for S&P, 60% of initial levels
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Pricing date: | March 18
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Settlement date: | March 23
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2.7%
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Cusip: | 17330AHT2
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