Published on 10/30/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $421,000 11.25% callable equity linked securities on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, Oct. 30 – Citigroup Global Markets Holdings Inc. priced $421,000 of 11.25% callable equity linked securities due April 5, 2024 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 11.25% per year, payable monthly.
The securities may be called starting in October 2023 at par on any monthly determination date.
If the notes are not called, the payout at maturity will be par unless the final price of any index is less than the initial level and any index has ever closed below 70% of the initial level during the life of the notes, in which case investors will be fully exposed to the losses of the worst performer.
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 equity linked securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $421,000
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| Maturity: | April 5, 2024
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| Coupon: | 11.25% payable monthly
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| Price: | Par
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| Payout at maturity: | Par if all three indexes close above initial levels or no index ever closes below the trigger level during the life of the notes; otherwise, full exposure to losses of worst performer
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| Call: | Starting in October 2023 at par on any monthly determination date
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| Initial levels: | 13,181.35 for Nasdaq, 1,802.484 for Russell, 4,109.31 for S&P
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| Trigger levels: | 9,226.945 for Nasdaq, 1,261.739 for Russell, 2,876.517 for S&P, 70% of initial levels
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| Pricing date: | March 31, 2023
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| Settlement date: | April 5, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.35%
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| Cusip: | 17331H4E3
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