Published on 9/6/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $926,000 barrier securities on Nasdaq, Russell, Dow
By Kiku Steinfeld
Chicago, Sept. 6 – Citigroup Global Markets Holdings Inc. priced $926,000 of 0% barrier securities due March 4, 2027 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each index finishes at or above its initial level, payout will be par plus 2 times the return of the least-performing index, capped at 90%.
If the least-performing index finishes below its initial level but at or above its final barrier level, 70% of its initial level, the payout at maturity will be par.
Otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level.
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: | Barrier securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $926,000
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| Maturity: | March 4, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above initial level, par plus 2 times the gain of the least-performing index, capped at 90%; if any index finishes below its initial level but at or above its final barrier level, par; otherwise, 1% loss for each 1% decline of the least-performing index from its initial level
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| Initial levels: | 12,042.12 for Nasdaq, 32,656.70 for Dow, 1,896.991 for Russell
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| Final barrier levels: | 8,429.484 for Nasdaq, 22,859.690 for Dow, 1,327.894 for Russell; 70% of initial levels
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| Pricing date: | Feb. 28, 2023
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| Settlement date: | March 3, 2023
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.1%
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| Cusip: | 17331CEM5
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