Published on 8/21/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $426,000 14.05% callable contingent coupon notes on indexes
Chicago, Aug. 21 – Citigroup Global Markets Holdings Inc. priced $426,000 of callable contingent coupon equity linked securities due Nov. 9, 2023 linked to the worst performing of the MSCI EAFE index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.05% paid quarterly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date.
The securities may be called at par starting Feb. 6, 2023 and on any subsequent quarterly review date.
At maturity the payout will be par if all of the indexes never close below the 75% knock-in level during the life of the notes or the worst performing index ends above its initial level. Otherwise, investors will be fully exposed to the decline of the worst performing index.
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 indexes: | MSCI EAFE index and Russell 2000 index
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| Amount: | $426,000
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| Maturity: | Nov. 9, 2023
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| Coupon: | 14.05% annual rate, paid quarterly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | Par if all of the indexes never close below the knock-in level during the life of the notes or the worst performing index ends above its initial level, otherwise investors will be fully exposed to the decline in the worst performing index
|
| Call: | At par starting Feb. 6, 2023 and on any subsequent quarterly review date
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| Initial levels: | 1,924.07 for EAFE index, 1,921.824 for Russell
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| Coupon barriers: | 1,443.053 for EAFE index, 1,441.368 for Russell, 75% of initial levels
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| Knock-in levels: | 1,443.053 for EAFE index, 1,441.368 for Russell, 75% of initial levels
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| Pricing date: | Aug. 5, 2022
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| Settlement date: | Aug. 10, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17330PXE4
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