Published on 12/11/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $678,000 7.15% callable contingent coupon notes on indexes
By Kiku Steinfeld
Chicago, Dec. 11 – Citigroup Global Markets Holdings Inc. priced $678,000 of callable contingent coupon equity linked securities due April 26, 2028 linked to the Dow Jones industrial average, Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.15% paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called starting April 22, 2024 on a monthly review date.
The payout at maturity will be par if the worst performing index ends at or above its 70% final barrier. Otherwise investors will lose 1% for every 1% that the worst performing index 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 indexes: | Dow Jones industrial average, Nasdaq-100 index and S&P 500 index
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| Amount: | $678,000
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| Maturity: | April 26, 2028
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| Coupon: | 7.15% paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above final barrier par; 1% loss for every 1% that worst performing index declines if it ends below final barrier
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| Call: | Starting April 22, 2024 on a monthly review date
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| Initial levels: | 33,808.96 for Dow Jones industrial average, 13,000.77 for Nasdaq-100 index, 4,133.52 for S&P 500 index
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| Coupon barriers: | 23,666.272 for Dow Jones industrial average, 9,100.539 for Nasdaq-100 index, 2,893.464 for S&P 500 index, 70% of initial levels
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| Final barriers: | 23,666.272 for Dow Jones industrial average, 9,100.539 for Nasdaq-100 index, 2,893.464 for S&P 500 index, 70% of initial levels
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| Pricing date: | April 21, 2023
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| Settlement date: | April 26, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17331HS49
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