Published on 10/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $7.5 million 13.8% contingent income callable securities on indexes
New York, Oct. 10 – Citigroup Global Markets Holdings Inc. priced $7.5 million of contingent income callable securities due Oct. 1, 2026 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.8%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on every day that quarter
The securities may be called at par on any determination date.
If the worst performing index gains or ends above its 70% downside threshold the payout at maturity will be par plus the contingent coupon, if any. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
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: | Contingent income callable securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $7.5 million
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| Maturity: | Oct. 1, 2026
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| Coupon: | 13.8%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on every day that quarter
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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| Call: | At par on any determination date
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| Initial levels: | 14,702.77 for Nasdaq-100 index, 1,794.312 for Russell 2000 index, 4,299.70 for S&P 500 index
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| Downside thresholds: | 10,291.939 for Nasdaq-100 index, 1,256.018 for Russell 2000 index, 3,009.790 for S&P 500 index, 70% of initial level
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| Coupon barriers: | 11,027.078 for Nasdaq-100 index, 1,345.734 for Russell 2000 index, 3,224.775 for S&P 500 index, 75% of initial levels
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| Pricing date: | Sept. 28
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| Settlement date: | Oct. 3
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75% including a structuring fee of 0.25%
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| Cusip: | 17291QZV9
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