Published on 10/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $632,000 8.5% callable contingent coupon securities on Nasdaq, S&P
By Kiku Steinfeld
Chicago, Oct. 10 – Citigroup Global Markets Holdings Inc. priced $632,000 of callable contingent coupon equity linked securities due March 27, 2026 linked to the Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.5% paid quarterly if the worst performing index closes at or above its 65% coupon barrier on the related valuation date.
The securities may be called starting March 25, 2024 on a quarterly review date.
The payout at maturity will be par if the worst performing index ends at or above its 65% final barrier. Otherwise investors will lose 1% for every 1% that the worst performing index 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 indexes: | Nasdaq-100 index and S&P 500 index
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| Amount: | $632,000
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| Maturity: | March 27, 2026
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| Coupon: | 8.5% paid quarterly if the worst performing index closes at or above its 65% coupon barrier on the related valuation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing index finishes at or above final barrier par; 1% loss for every 1% that worst performing index declines if it ends below final barrier
|
| Call: | Starting March 25, 2024 on a quarterly review date
|
| Initial levels: | 12,767.05 for Nasdaq index, 3,970.99 for S&P
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| Coupon barriers: | 8,298.583 for Nasdaq index, 2,581.144 for S&P, 65% of initial levels
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| Final barriers: | 8,298.583 for Nasdaq index, 2,581.144 for S&P, 65% of initial levels
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| Pricing date: | March 24, 2023
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| Settlement date: | March 29, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.95%
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| Cusip: | 17331HB70
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