Published on 9/7/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $2.07 million callable contingent coupon equity linked notes on indexes, ETF
New York, Sept. 7 – Citigroup Global Markets Holdings Inc. priced $2.07 million of callable contingent coupon equity linked securities due Sept. 3, 2026 linked to the Nasdaq-100 index, the Russell 2000 index and the Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14%, paid monthly, if the worst performing asset closes at or above its 75% coupon barrier on the related valuation date.
The securities may be called at par on any monthly review date starting Nov. 30.
The payout at maturity will be par if the worst performing asset ends at or above its 70% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing asset 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 Technology Select Sector SPDR Fund
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| Amount: | $2,071,000
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| Maturity: | Sept. 3, 2026
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| Coupon: | 14%, paid monthly if the worst performing asset closes at or above its 75% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above final barrier, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call option: | At par on any monthly review date starting Nov. 30
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| Initial levels: | 15,462.43 for Nasdaq-100 index, 1,903.213 for Russell 2000 index, $174.81 for Technology Select Sector SPDR Fund
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| Coupon barriers: | 11,596.823 for Nasdaq-100 index, 1,427.410 for Russell 2000 index, $131.108 for Technology Select Sector SPDR Fund, 75% of initial levels
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| Final barriers: | 10,823.701 for Nasdaq-100 index, 1,332.249 for Russell 2000 index, $122.367 for Technology Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | Aug. 30
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| Settlement date: | Sept. 5
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.65%
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| Cusip: | 17291QHH0
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