Published on 2/19/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $70,000 10% callable contingent coupon equity notes on indexes
By Kiku Steinfeld
Chicago, Feb. 21 – Citigroup Global Markets Holdings Inc. priced $70,000 of callable contingent coupon equity linked securities due Nov. 19, 2025 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 10% paid monthly if the worst performing index closes at or above its 65% coupon barrier on the related valuation date.
The securities may be called at par starting Feb. 15, 2023 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: | $70,000
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| Maturity: | Nov. 19, 2025
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| Coupon: | 10% paid monthly if the worst performing index closes at or above its 65% coupon barrier on the related valuation date
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| 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
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| Call option: | Starting at par Feb. 15, 2023 and on any subsequent monthly review date
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| Initial levels: | 11,871.15 for Nasdaq, 1,889.204 for Russell, 3,991.73 for S&P 500 index
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| Coupon barriers: | 7,716.248 for Nasdaq, 1,227.983 for Russell, 2,594.625 for S&P, 65% of initial levels
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| Final barriers: | 7,122.690 for Nasdaq, 1,133.522 for Russell, 2,395.038 for S&P, 60% of initial levels
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| Pricing date: | Nov. 15, 2022
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| Settlement date: | Nov. 17, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17330YST8
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