Published on 8/24/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.26 million callable contingent coupon equity linked notes on indexes, ETF
New York, Aug. 24 – Citigroup Global Markets Holdings Inc. priced $1.26 million of callable contingent coupon equity linked securities due July 18, 2025 linked to the Nasdaq-100 index, the Russell 2000 index and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.8%, paid monthly, if the worst performing underlier closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called at par on any monthly review date starting Nov. 15.
The payout at maturity will be par if the worst performing underlier ends at or above its 70% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing underlier 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 Utilities Select Sector SPDR Fund
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| Amount: | $1,263,000
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| Maturity: | July 18, 2025
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| Coupon: | 11.8%, paid monthly if the worst performing underlier closes at or above its 70% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing underlier finishes at or above final barrier, par; otherwise, 1% loss for every 1% that worst performing underlier declines from initial level
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| Call option: | At par on any monthly review date starting Nov. 15
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| Initial levels: | 15,037.65 for Nasdaq-100 index, 1,895.755 for Russell 2000 index, $63.02 for Utilities Select Sector SPDR Fund
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| Coupon barriers: | 10,526.355 for Nasdaq-100 index, 1,327.029 for Russell 2000 index, $44.114 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Final barriers: | 10,526.355 for Nasdaq-100 index, 1,327.029 for Russell 2000 index, $44.114 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | Aug. 15
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| Settlement date: | Aug. 18
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.725%
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| Cusip: | 17291QA87
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