Published on 7/22/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $500,000 12.85% callable contingent coupon equity notes on indexes, ETF
Chicago, July 22 – Citigroup Global Markets Holdings Inc. priced $500,000 of callable contingent coupon equity linked securities due July 23, 2026 linked to the worst performing of the Nasdaq-100 index, Russell 2000 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 12.85% paid monthly if the worst performing asset closes at or above its 65% coupon barrier on the related valuation date.
The securities may be called starting Oct. 18 at par and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing asset ends at or above its 50% 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: | Nasdaq-100 index, Russell 2000 index and SPDR S&P Regional Banking ETF
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| Amount: | $500,000
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| Maturity: | July 23, 2026
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| Coupon: | 12.85% annual rate, paid monthly if the worst performing asset closes at or above its 65% 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; 1% loss for every 1% that worst performing asset declines if it ends below final barrier
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| Call: | Starting Oct. 18 at par and on any subsequent monthly review date
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| Initial levels: | 15,841.35 for Nasdaq, 1,976.067 for Russell, $45.73 for Regional Banking ETF
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| Coupon barriers: | 10,296.878 for Nasdaq, 1,284.444 for Russell, $29.725 for Regional Banking ETF, 65% of initial levels
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| Final barriers: | 7,920.675 for Nasdaq, 988.034 for Russell, $22.865 for Regional Banking ETF, 50% of initial levels
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| Pricing date: | July 18
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| Settlement date: | July 21
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.65%
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| Cusip: | 17291RLR1
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