Published on 12/5/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.05 million 8% callable contingent coupon equity notes on indexes
By Kiku Steinfeld
Chicago, Dec. 5 – Citigroup Global Markets Holdings Inc. priced $1.05 million of callable contingent coupon equity linked securities due Oct. 5, 2023 linked to 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 8% paid quarterly 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. 30, 2022 and on any subsequent quarterly review date.
The payout at maturity will be par if the worst performing index ends at or above its 70% 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.
|
| 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: | $1.05 million
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| Maturity: | Oct. 5, 2023
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| Coupon: | 8% paid quarterly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date
|
| Price: | Par
|
| 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. 30, 2022 and on any subsequent quarterly review date
|
| Initial levels: | 14,838.49 for Nasdaq, 2,070.125 for Russell, 4,530.41 for S&P
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| Coupon barriers: | 10,386.943 for Nasdaq, 1,449.088 for Russell, 3,171.287 for S&P, 70% of initial levels
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| Final barriers: | 10,386.943 for Nasdaq, 1,449.088 for Russell, 3,171.287 for S&P, 70% of initial levels
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| Pricing date: | March 31
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| Settlement date: | April 5
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.875%
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| Cusip: | 17330ALC4
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