Published on 8/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $8.71 million 11.3% contingent income callable securities on indexes
New York, Aug. 10 – Citigroup Global Markets Holdings Inc. priced $8.71 million of contingent income callable securities due Aug. 7, 2025 linked to the Nasdaq-100 index, 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 11.3%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier every day that quarter.
The securities may be called at par on any determination date.
If the worst performing index gains or ends above its 75% downside threshold the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
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: | Contingent income callable securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $8,713,000
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| Maturity: | Aug. 7, 2025
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| Coupon: | 11.3%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier | every day that quarter
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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| Call: | At par on any determination date
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| Initial levels: | 15,274.92 for Nasdaq-100 index, 1,957.463 for Russell 2000 index, 4,478.03 for S&P 500 index
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| Downside thresholds: | 11,456.190 for Nasdaq-100 index, 1,468.097 for Russell 2000 index, 3,358.523 for S&P 500 index, 75% of initial level
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| Coupon barriers: | 11,456.190 for Nasdaq-100 index, 1,468.097 for Russell 2000 index, 3,358.523 for S&P 500 index, 75% of initial levels
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| Pricing date: | Aug. 4
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| Settlement date: | Aug. 9
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2% including a structuring fee of 0.5%
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| Cusip: | 17291Q3X0
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