Published on 2/11/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $393,000 7.85% callable equity-linked securities on indexes
Chicago, Feb. 11 – Citigroup Global Markets Holdings Inc. priced $393,000 of 7.85% callable equity-linked securities due Nov. 26, 2024 linked to the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly.
The securities may be called starting in August 2023 at par and on any subsequent monthly determination date.
If the worst performing index gains or declines but ends above its 70% downside threshold the payout at maturity will be par plus the coupon. 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: | Callable equity-linked securities
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $393,000
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| Maturity: | Nov. 26, 2024
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| Coupon: | 7.85% annual rate, payable monthly
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| Price: | Par
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| Payout at maturity: | Par if worst performing index finishes at or above its downside threshold level; otherwise, 1% loss for every 1% that worst performing index declines
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| Call: | Starting in August 2023 at par and on any subsequent monthly determination date
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| Initial levels: | 33,055.51 for Dow, 13,672.54 for Nasdaq, 1,787.715 for Russell
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| Downside thresholds: | 23,138.857 for Dow, 9,570.778 for Nasdaq, 1,251.401 for Russell, 70% 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: | 2.225%
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| Cusip: | 17331HWN2
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