Published on 1/30/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.11 million 7.75% callable contingent coupon equity notes on S&P
Chicago, Jan. 30 – Citigroup Global Markets Holdings Inc. priced $1.11 million of callable contingent coupon equity linked securities due May 2, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.75% paid monthly if the index closes at or above its 70% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities may be called at par starting Oct. 28, 2022 and on any subsequent monthly review date.
The payout at maturity will be par if the index ends at or above its 70% final barrier. Otherwise, investors will lose 1% for every 1% that the 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 index: | S&P 500 index
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| Amount: | $1,112,000
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| Maturity: | May 2, 2024
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| Coupon: | 7.75% annual rate, paid monthly if the index closes at or above its 70% coupon barrier on the related valuation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above final barrier par; 1% loss for every 1% that index declines if it ends below final barrier
|
| Call: | At par starting Oct. 28, 2022 and on any subsequent monthly review date at option of issuer
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| Initial level: | 4,287.50
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| Coupon barrier: | 3,001.25, 70% of initial level
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| Final barrier: | 3,001.25, 70% of initial level
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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: | 0.25%
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| Cusip: | 17330FHL8
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