Published on 4/17/2023 in the Prospect News Structured Products Daily.
New Issue: Citi sells $2 million contingent return market-linked notes with downside on indexes
By William Gullotti
Buffalo, N.Y., April 17 – Citigroup Global Markets Holdings Inc. priced $2 million of 0% market-linked securities – contingent fixed return and contingent downside due April 29, 2024 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 6.55% if each index finishes at or above its 65% barrier.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
The notes are guaranteed by Citigroup Inc.
Wells Fargo Securities LLC and Citigroup Global Markets Inc. are the agents.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Market-linked securities – contingent fixed return and contingent downside
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Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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Amount: | $2 million
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Maturity: | April 29, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above barrier level, par plus 6.55%; otherwise, full exposure to decline of worst performer from initial level
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Initial levels: | 4,108.94 for S&P, 1,786.595 for Russell, 12,964.16 for Nasdaq
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Barrier levels: | 2,670.811 for S&P, 1,161.28675 for Russell, 8,426.704 for Nasdaq; 65% of initial levels
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Pricing date: | April 11
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Settlement date: | April 14
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Agents: | Wells Fargo Securities LLC and Citigroup Global Markets Inc.
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Fees: | 2.37%
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Cusip: | 17331HVR4
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