Published on 12/2/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $692,000 10.9% callable contingent coupon equity notes on indexes
Chicago, Dec. 2 – Citigroup Global Markets Holdings Inc. priced $692,000 of callable contingent coupon equity-linked securities due March 21, 2024 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.9% 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 at par starting Sept. 19, 2022 and on any subsequent monthly review date.
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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $692,000
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| Maturity: | March 21, 2024
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| Coupon: | 10.9% annual rate, paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date
|
| 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
|
| Call: | At par starting Sept. 19, 2022 and on any subsequent monthly review date at option of issuer
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| Initial levels: | 14,420.08 for Nasdaq, 2,086.143 for Russell, 4,463.12 for S&P
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| Coupon barriers: | 10,094.056 for Nasdaq, 1,460.300 for Russell, 3,124.184 for S&P, 70% of initial levels
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| Final barriers: | 8,652.048 for Nasdaq, 1,251.686 for Russell, 2,677.872 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: | 0.65%
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| Cusip: | 17330AUY6
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