Published on 9/15/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $400,000 16.55% callable contingent coupon equity notes on stocks, ETF
Chicago, Sept. 15 – Citigroup Global Markets Holdings Inc. priced $400,000 of callable contingent coupon equity linked securities due Sept. 5, 2025 linked to the worst performing of the common stocks of Amazon.com, Inc., Apple Inc. and Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.55% paid monthly if the worst performing asset closes at or above its 80% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities may be called at par starting Nov. 30, 2022 and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing asset ends at or above its 60% 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: | Amazon.com, Inc., Apple Inc. and Invesco QQQ Trust, Series 1
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| Amount: | $400,000
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| Maturity: | Sept. 5, 2025
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| Coupon: | 16.55% annual rate, paid monthly if the worst performing asset closes at or above its 80% coupon barrier on the related valuation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above final barrier par; 1% loss for every 1% that worst performing asset declines if it ends below final barrier
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| Call: | At par starting Nov. 30, 2022 and on any subsequent monthly review date
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| Initial levels: | $128.73 for Amazon, $158.91 for Apple, $301.02 for ETF
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| Coupon barriers: | $102.984 for Amazon, $127.128 for Apple, $240.816 for ETF, 80% of initial levels
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| Final barriers: | $77.238 for Amazon, $95.346 for Apple, $180.612 for ETF, 60% of initial levels
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| Pricing date: | Aug. 30, 2022
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| Settlement date: | Sept. 2, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17330DGA8
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