Published on 5/2/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $15.52 million trigger callable yield notes on Dow, Russell
By Wendy Van Sickle
Columbus, Ohio, May 2 – Citigroup Global Markets Holdings Inc. priced $15.52 million of 9.75% trigger callable yield notes due July 26, 2024 linked to the least performing of the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on any monthly call date after three months.
The payout at maturity will be par unless any index finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the worst performer from its initial level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Trigger callable yield notes
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Underlying indexes: | Russell 2000 index and Dow Jones industrial average
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Amount: | $15,521,950
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Maturity: | July 26, 2024
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Coupon: | 9.75% per year, payable monthly
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Price: | Par of $10
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Payout at maturity: | Par unless any index finishes below downside threshold, in which case 1% loss for each 1% decline worst performer from initial level
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Call option: | At par on any monthly evaluation date after three months
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Initial levels: | 33,301.87 for Dow, 1,730.411 for Russell
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Downside thresholds: | 19,981.12 for Dow, 1,038.247, for Russell; 60% of initial levels
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Pricing date: | April 26
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Settlement date: | April 28
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Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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Fees: | 0%
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Cusip: | 17331D303
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