Published on 12/12/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $517,000 11.5% callable contingent coupon notes on ETF, index
By Kiku Steinfeld
Chicago, Dec. 12 – Citigroup Global Markets Holdings Inc. priced $517,000 of callable contingent coupon equity linked securities due April 24, 2026 linked to the Financial Select Sector SPDR Fund and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.5% paid semi-annually if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called starting Oct. 23, on any semi-annual review date.
The payout at maturity will be par if the worst performing asset ends at or above its 70% 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: | Financial Select Sector SPDR Fund and Nasdaq-100 index
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| Amount: | $517,000
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| Maturity: | April 24, 2026
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| Coupon: | 11.5% paid semi-annually 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: | Starting Oct. 23, 2023 on any semi-annual review date
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| Initial levels: | $33.22 for Financial Select Sector SPDR Fund, 13,000.77 for Nasdaq-100 index
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| Coupon barriers: | $23.254 for Financial Select Sector SPDR Fund, 9,100.539 for Nasdaq-100 index, 70% of initial levels
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| Final barriers: | $23.254 for Financial Select Sector SPDR Fund, 9,100.539 for Nasdaq-100 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: | 1.5%
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| Cusip: | 17331HPD2
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