Published on 1/30/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.04 million callable contingent coupon equity notes on Russell, S&P
Chicago, Jan. 30 – Citigroup Global Markets Holdings Inc. priced $1.04 million of callable contingent coupon equity linked securities due May 2, 2025 linked to the worst performing of the 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 8.25% if the worst performing index closes at or above its 70% coupon barrier on the related semiannual valuation date.
The securities may be called at par starting Oct. 31, 2022 and on any subsequent semiannual determination 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.
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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: | $1,041,000
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| Maturity: | May 2, 2025
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| Coupon: | 8.25% annual rate, if the worst performing index closes at or above its 70% coupon barrier on the related semiannual 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 Oct. 31, 2022 and on any subsequent semiannual determination date
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| Initial levels: | 1,864.103 for Russell, 4,131.93 for S&P
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| Coupon barriers: | 1,304.872 for Russell, 2,892.351 for S&P, 70% of initial levels
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| Final barriers: | 1,304.872 for Russell, 2,892.351 for S&P, 70% of initial levels
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| Pricing date: | April 29, 2022
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| Settlement date: | May 4, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17330FBS9
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