Published on 12/2/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.16 million callable contingent coupon notes on Russell, S&P Dynamic
Chicago, Dec. 2 – Citigroup Global Markets Holdings Inc. priced $1.16 million of callable contingent coupon equity-linked securities due March 23, 2027 linked to the worst performing of the Russell 2000 index and S&P 500 Dynamic Participation index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10% paid monthly if the worst performing index closes at or above its 85% coupon barrier on the related valuation date.
The securities may be called at par starting March 20, 2023 and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing index gains or declines by no more than its 15% buffer. Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond the buffer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
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| Underlying indexes: | Russell 2000 index and S&P 500 Dynamic Participation index
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| Amount: | $1,161,000
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| Maturity: | March 23, 2027
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| Coupon: | 10% annual rate, paid monthly if the worst performing index closes at or above its 85% coupon barrier on the related valuation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing index finishes at or above its final buffer par; 1% loss for every 1% that worst performing index declines beyond the buffer
|
| Call: | At par starting March 20, 2023 and on any subsequent monthly review date at option of issuer
|
| Initial levels: | 2,086.143 for Russell, 708.10 for S&P Dynamic
|
| Coupon barriers: | 1,773.222 for Russell, 601.885 for S&P Dynamic, 85% of initial levels
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| Buffer: | 15%
|
| Final buffers: | 1,773.222 for Russell, 601.885 for S&P Dynamic, 85% of initial levels
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| Pricing date: | March 18
|
| Settlement date: | March 23
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 4%
|
| Cusip: | 17330AU26
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