Published on 10/11/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $15 million 10.01% trigger callable yield notes linked to Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Oct. 11 – Citigroup Global Markets Holdings Inc. priced $15 million of 10.01% trigger callable yield notes due Jan. 10, 2025 linked to the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable monthly.
The notes are callable at par of $10 on any monthly coupon payment date after three months.
The payout at maturity will be par unless the lowest performing index finishes below its 70% downside threshold level, in which case investors will be fully exposed to the index’s decline.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Trigger callable yield notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index
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Amount: | $15 million
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Maturity: | Jan. 10, 2025
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Coupon: | 10.01%, payable monthly
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Price: | Par of $10
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Payout at maturity: | If the lowest performing index finishes at or above downside threshold level, par; otherwise, full exposure to least performing index’s decline from its initial level
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Call option: | At par on any monthly call date after three months
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Initial levels: | 14,776.25 for Nasdaq, 1,729.013 for Russell
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Downside threshold levels: | 10,343.38 for Nasdaq, 1,210.309 for Russell; 70% of initial levels
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Pricing date: | Oct. 5
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Settlement date: | Oct. 11
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Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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Fees: | 1%
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Cusip: | 17331M790
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