Published on 8/9/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $408,000 5.8% callable contingent coupon equity notes on Dow, Nasdaq
Chicago, Aug. 9 – Citigroup Global Markets Holdings Inc. priced $408,000 of callable contingent coupon equity linked securities due Jan. 30, 2025 linked to the worst performing of the Dow Jones industrial average and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 5.8% paid monthly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date.
The securities may be called starting Jan. 26, 2024 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 20% 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: | Dow Jones industrial average and Nasdaq-100 index
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| Amount: | $408,000
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| Maturity: | Jan. 30, 2025
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| Coupon: | 5.8% annual rate, paid monthly if the worst performing index closes at or above its 80% coupon barrier on the related 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 Jan. 26, 2024 at par and on any subsequent monthly review date
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| Initial levels: | 35,520.12 for Dow, 15,499.26 for Nasdaq index
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| Coupon barriers: | 28,416.096 for Dow, 12,399.408 for Nasdaq index, 80% of initial levels
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| Final buffers: | 28,416.096 for Dow, 12,399.408 for Nasdaq index, 80% of initial levels
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| Buffer: | 20%
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| Pricing date: | July 26
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| Settlement date: | July 31
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17291RQK1
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