Published on 9/1/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $501,000 8% securities linked to S&P, Russell, Nasdaq
By Angela McDaniels
Tacoma, Wash., Sept. 1 – Citigroup Global Markets Holdings Inc. priced $501,000 of 8% equity-linked securities due Jan. 10, 2025 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the least performing index finishes below its downside threshold, 60% of its initial level, in which case investors will lose 1% for every 1% that the least performing index declines from its initial level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Equity-linked securities
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Underlying index: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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Amount: | $501,000
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Maturity: | Jan. 10, 2025
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Coupon: | 8% per year, payable monthly
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Price: | Par
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Payout at maturity: | Par unless least performing index finishes below downside threshold, in which case 1% loss for every 1% that least performing index declines from initial level
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Initial levels: | 3,908.119 for S&P, 1,792.323 for Russell and 12,011.31 for Nasdaq
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Downside thresholds: | 2,344.914 for S&P, 1,075.394 for Russell and 7,206.789 for Nasdaq, or 60% of initial level
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Strike date: | Sept. 6, 2022
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Pricing date: | Sept. 7, 2022
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Settlement date: | Sept. 12, 2022
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.47%
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Cusip: | 17330RLU7
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