Published on 7/14/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1 million 9% callable contingent coupon equity notes on indexes
Chicago, July 14 – Citigroup Global Markets Holdings Inc. priced $1 million of callable contingent coupon equity linked securities due April 15, 2024 linked to the worst performing of 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% if the worst performing index closes at or above its 85% coupon barrier on the related monthly valuation date.
The securities may be called starting Oct. 10 at par and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing index gains or declines by no more than its 15% buffer. Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond the buffer.
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 indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $1 million
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| Maturity: | April 15, 2024
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| Coupon: | 9% annual rate, if the worst performing index closes at or above its 85% coupon barrier on the related monthly valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its final buffer par; 1% loss for every 1% that worst performing index declines beyond the buffer
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| Call: | Starting Oct. 10 at par and on any subsequent monthly review date
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| Initial levels: | 15,045.64 for Nasdaq, 1,895.252 for Russell, 4,409.53 for S&P
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| Coupon barriers: | 12,788.794 for Nasdaq, 1,610.964 for Russell, 3,748.101 for S&P, 85% of initial levels
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| Final buffers: | 12,788.794 for Nasdaq, 1,610.964 for Russell, 3,748.101 for S&P, 85% of initial levels
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| Buffer: | 15%
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| Pricing date: | July 10
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| Settlement date: | July 13
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.65%
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| Cusip: | 17291RL42
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