Published on 5/25/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $18.75 million 9% contingent income callable securities on indexes
New York, May 25 – Citigroup Global Markets Holdings Inc. priced $18.75 million of contingent income callable securities due Unless earlier redeemed by us, May 22, 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 9%, paid quarterly, if each underlying index closes at or above its 60% coupon barrier on the related quarterly observation date.
The securities may be called on any determination date.
If the worst performing index gains or ends above its 60% downside threshold the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
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: | Contingent income callable securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $18,749,000
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| Maturity: | May 22, 2025
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| Coupon: | 9%, paid quarterly, if each underlying index closes at or above its 60% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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| Call: | On any determination date at par
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| Initial levels: | 13,803.49 for Nasdaq, 1,773.717 for Russell, 4,191.98 for S&P
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| Downside thresholds: | 8,282.094 for Nasdaq, 1,064.23 for Russell, 2,515.188 for S&P, 60% of initial levels
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| Coupon barriers: | 8,282.094 for Nasdaq, 1,064.23 for Russell, 2,515.188 for S&P, 60% of initial levels
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| Pricing date: | May 19
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| Settlement date: | May 24
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2% including a structuring fee of 0.5%
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| Cusip: | 17331HXS0
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