Published on 3/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.83 million 15% callable contingent coupon equity linked securities on bank stocks
New York, March 10 – Citigroup Global Markets Holdings Inc. priced $1.83 million of callable contingent coupon equity linked securities due March 9, 2028 linked to the common stocks of Comerica Inc., Fifth Third Bancorp and PNC Financial Services Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annualized coupon of 15% paid quarterly if the worst performing stock closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called starting June 7 and on any subsequent quarterly review date.
The payout at maturity will be par if the worst performing stock ends at or above its 60% final barrier. Otherwise investors will lose 1% for every 1% that the worst performing stock 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 stocks: | Comerica Inc., Fifth Third Bancorp and PNC Financial Services Group, Inc.
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| Amount: | $1,829,000
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| Maturity: | March 9, 2028
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| Coupon: | 15% paid quarterly if the worst performing stock 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 stock finishes at or above final barrier par; 1% loss for every 1% that worst performing stock declines if it ends below final barrier
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| Call: | Starting June 7 and on any subsequent quarterly review date
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| Initial levels: | $66.60 for Comerica Inc., $34.29 for Fifth Third Bancorp, $145.72 for PNC Financial Services Group, Inc.
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| Coupon barriers: | $46.620 for Comerica Inc., $24.003 for Fifth Third Bancorp, $102.004 for PNC Financial Services Group, Inc., 70% of initial levels
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| Final barriers: | $39.960 for Comerica Inc., $20.574 for Fifth Third Bancorp, $87.432 for PNC Financial Services Group, Inc., 60% of initial levels
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| Pricing date: | March 7
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| Settlement date: | March 9
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.75%
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| Cusip: | 17331CXH5
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