Published on 8/21/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $250,000 12.2% callable contingent coupon equity notes on funds
Chicago, Aug. 21 – Citigroup Global Markets Holdings Inc. priced $250,000 of callable contingent coupon equity linked securities due Aug. 8, 2024 linked to the Energy Select Sector SPDR Fund, the Financial Select Sector SPDR Fund and the Health Care Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.2% paid quarterly if the worst performing fund closes at or above its 55% coupon barrier on the related valuation date.
The securities may be called at par starting Feb. 3, 2023 and on any subsequent quarterly review date.
The payout at maturity will be par if the worst performing fund ends at or above its 55% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing fund 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 funds: | Energy Select Sector SPDR Fund, Financial Select Sector SPDR Fund and Health Care Select Sector SPDR Fund
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| Amount: | $250,000
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| Maturity: | Aug. 8, 2024
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| Coupon: | 12.2% annual rate, paid quarterly if the worst performing fund closes at or above its 55% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing fund finishes at or above final barrier par; 1% loss for every 1% that worst performing fund declines if it ends below final barrier
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| Call: | At par starting Feb. 3, 2023 and on any subsequent quarterly review date
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| Initial levels: | $74.42 for Energy, $33.56 for Financial, $132.15 for Health Care
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| Coupon barriers: | $40.931 for Energy, $18.458 for Financial, $72.683 for Health Care, 55% of initial levels
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| Final barriers: | $40.931 for Energy, $18.458 for Financial, $72.683 for Health Care, 55% of initial levels
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| Pricing date: | Aug. 3, 2022
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| Settlement date: | Aug. 8, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17330PZE2
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