Published on 6/24/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $485,000 13.5% callable equity linked securities on three indexes
By Kiku Steinfeld
Chicago, June 26 – Citigroup Global Markets Holdings Inc. priced $485,000 of 13.5% callable equity linked securities due Feb. 2, 2024 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.
Coupons will be paid monthly.
If all indexes finish at or above their initial levels or no index closes below its 70% knock-in level during the life of the notes, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst performer.
The securities may be called starting Aug. 2, 2023 at par on any monthly review date.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Callable equity linked securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $485,000
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| Maturity: | Feb. 2, 2024
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| Coupon: | 13.5% per year, payable monthly
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| Price: | Par
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| Payout at maturity: | Par if all indexes finish at or above their initial levels or no index closes below its knock-in level during the life of the notes; otherwise, exposure to decline of worst performer
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| Call: | Starting Aug. 2, 2023 at par on any monthly review date
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| Initial levels: | 12,101.93 for Nasdaq, 1,931.945 for Russell, 4,076.60 for S&P
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| Knock-in levels: | 8,471.351 for Nasdaq, 1,352.362 for Russell, 2,853.62 for S&P, 70% of initial levels
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| Pricing date: | Jan. 31, 2023
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| Settlement date: | Feb. 3, 2023
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17331CB48
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