Published on 2/11/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $500,000 22% callable contingent coupon notes on indexes, ETF
Chicago, Feb. 11 – Citigroup Global Markets Holdings Inc. priced $500,000 of callable contingent coupon equity-linked securities due May 29, 2026 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 22% paid monthly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called at par starting Aug. 23, 2023 and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing asset ends at or above its 50% 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: | Nasdaq-100 index, Russell 2000 index and SPDR S&P Regional Banking ETF
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| Amount: | $500,000
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| Maturity: | May 29, 2026
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| Coupon: | 22% annual rate, paid monthly if the worst performing asset 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 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 Aug. 23, 2023 and on any subsequent monthly review date
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| Initial levels: | 13,803.49 for Nasdaq, 1,773.717 for Russell, $39.21 for ETF
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| Coupon barriers: | 9,662.443 for Nasdaq, 1,241.602 for Russell, $27.447 for ETF, 70% of initial levels
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| Final barriers: | 6,901.745 for Nasdaq, 886.859 for Russell, $19.605 for ETF, 50% of initial levels
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| Pricing date: | May 23, 2023
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| Settlement date: | May 26, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
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| Cusip: | 17331HZ58
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