Published on 7/28/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $5.84 million 13.05% callable contingent coupon notes on indexes, ETF
Chicago, July 28 – Citigroup Global Markets Holdings Inc. priced $5.84 million of callable contingent coupon equity linked securities due July 24, 2025 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 13.05% 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 Jan. 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: | Nasdaq-100 index, Russell 2000 index and SPDR S&P Regional Banking ETF
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Amount: | $5,842,000
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Maturity: | July 24, 2025
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Coupon: | 13.05% 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 Jan. 22, 2024 at par and on any subsequent quarterly review date
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Initial levels: | 15,425.67 for Nasdaq, 1,960.255 for Russell, $46.38 for Regional Banking ETF
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Coupon barriers: | 9,255.402 for Nasdaq, 1,176.153 for Russell, $27.828 for Regional Banking ETF, 60% of initial levels
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Final barriers: | 9,255.402 for Nasdaq, 1,176.153 for Russell, $27.828 for Regional Banking ETF, 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: | 0.95%
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Cusip: | 17291RLF7
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