Published on 7/28/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3.01 million 14% callable contingent coupon notes on ETF, indexes
Chicago, July 28 – Citigroup Global Markets Holdings Inc. priced $3.01 million of callable contingent coupon equity linked securities due July 24, 2026 linked to the worst performing of the ARK Innovation ETF, 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 14% paid monthly if the worst performing asset closes at or above its 60% coupon barrier on the related valuation date.
The securities may be called starting July 22, 2024 at par and on any subsequent quarterly review date.
The payout at maturity will be par if the worst performing asset ends at or above its 60% 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: | ARK Innovation ETF, Russell 2000 index and S&P 500 index
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| Amount: | $3,009,000
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| Maturity: | July 24, 2026
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| Coupon: | 14% annual rate, paid monthly if the worst performing asset closes at or above its 60% 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 July 22, 2024 at par and on any subsequent quarterly review date
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| Initial levels: | $47.93 for ARK ETF, 1,960.255 for Russell, 4,536.34 for S&P
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| Coupon barriers: | $28.758 for ARK ETF, 1,176.153 for Russell, 2,721.804 for S&P, 60% of initial levels
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| Final barriers: | $28.758 for ARK ETF, 1,176.153 for Russell, 2,721.804 for S&P, 60% of initial levels
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| Pricing date: | July 21
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| Settlement date: | July 26
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17291RJV5
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