Published on 2/22/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.05 million 9.9% callable contingent coupon notes on indexes
Chicago, Feb. 22 – Citigroup Global Markets Holdings Inc. priced $1.05 million of callable contingent coupon equity linked securities due Feb. 8, 2024 linked to the worst performing of the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.9% paid monthly if the worst performing index closes at or above its 50% coupon barrier on the related valuation date.
The securities may be called at par starting Aug. 3, 2022 and on any subsequent quarterly review date.
At maturity the payout will be par if all of the indexes never close below the 50% knock-in level during the life of the notes or the worst performing index ends above its initial level. Otherwise, investors will be fully exposed to the decline of the worst performing index.
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: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $1,053,000
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| Maturity: | Feb. 8, 2024
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| Coupon: | 9.9% annual rate, paid monthly if the worst performing index closes at or above its 50% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | Par if all of the indexes never close below the knock-in level during the life of the notes or the worst performing index ends above its initial level, otherwise investors will be fully exposed to the decline in the worst performing index
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| Call: | At par starting Aug. 3, 2022 and on any subsequent quarterly review date at option of issuer
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| Initial levels: | 33,128.79 for Dow, 13,089.90 for Nasdaq, 1,898.857 for Russell
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| Coupon barriers: | 16,564.395 for Dow, 6,544.950 for Nasdaq, 949.429 for Russell, 50% of initial levels
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| Knock-in levels: | 16,564.395 for Dow, 6,544.950 for Nasdaq, 949.429 for Russell, 50% of initial levels
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| Pricing date: | May 3, 2022
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| Settlement date: | May 6, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.725%
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| Cusip: | 17330FU82
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