Published on 7/18/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $150,000 10.2% autocallable contingent coupon equity notes on indexes
By Kiku Steinfeld
Chicago, July 18 – Citigroup Global Markets Holdings Inc. sold $150,000 of autocallable contingent coupon equity linked securities due Feb. 27, 2026 linked to the Euro Stoxx 50 index, MSCI EAFE index and MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.2% paid quarterly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date.
The securities will be called automatically starting Aug. 16, 2023 if the level of the worst performing index is greater than or equal to its initial level on any quarterly valuation date.
If the worst performing index finishes at or above its 80% final barrier, the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing index 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: | Autocallable contingent coupon equity linked securities
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| Underlying indexes: | Euro Stoxx 50 index, MSCI EAFE index and MSCI Emerging Markets index
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| Amount: | $150,000
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| Maturity: | Feb. 27, 2026
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| Coupon: | 10.2% paid quarterly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date
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| Level: | Par
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| Payout at maturity: | If worst performing index finishes at or above final barrier, par; 1% loss for every 1% that worst performing index declines if it ends below final barrier
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| Call: | Automatically starting Aug. 16, 2023 if the level of the worst performing index is greater than or equal to its initial level on any quarterly valuation date
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| Initial levels: | 4,280.04 for Stoxx, 2,089.14 for MSCI EAFE, 1,004.87 for MSCI Emerging Markets
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| Coupon barriers: | 3,424.032 for Stoxx, 1,671.312 for MSCI EAFE, 803.896 for MSCI Emerging Markets, 80% of initial levels
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| Final barriers: | 3,424.032 for Stoxx, 1,671.312 for MSCI EAFE, 803.896 for MSCI Emerging Markets, 80% of initial levels
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| Pricing date: | Feb. 15, 2023
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| Settlement date: | Feb. 21, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17331CNY9
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