Published on 5/16/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.24 million callable contingent coupon equity linked notes on index, ETF
New York, May 16 – Citigroup Global Markets Holdings Inc. priced $1.24 million of callable contingent coupon equity linked securities due May 14, 2026 linked to the S&P 500 index and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 18.85% per year, paid quarterly, if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called at par on any quarterly review date starting Nov. 13, 2023.
The payout at maturity will be par if the worst performing asset ends at or above its 60% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing asset 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 assets: | S&P 500 index and SPDR S&P Regional Banking ETF
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| Amount: | $1,236,000
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| Maturity: | May 14, 2026
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| Coupon: | 18.85%, paid quarterly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above final barrier, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call option: | At par on any quarterly review date starting Nov. 13, 2023
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| Initial levels: | 4,130.62 for S&P 500 index, $36.14 for SPDR S&P Regional Banking ETF
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| Coupon barriers: | 2,891.434 for S&P 500 index, $25.298 for SPDR S&P Regional Banking ETF, 70% of initial levels
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| Final barriers: | 2,478.372 for S&P 500 index, $21.684 for SPDR S&P Regional Banking ETF, 60% of initial levels
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| Pricing date: | May 11
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| Settlement date: | May 16
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17331HLQ7
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