Published on 9/22/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $980,000 callable contingent coupon equity linked securities on indexes
Chicago, Sept. 22 – Citigroup Global Markets Holdings Inc. priced $980,000 of callable contingent coupon equity linked securities due Aug. 2, 2023 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.75% paid quarterly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called at par starting July 28, 2022 and on any subsequent quarterly review date.
At maturity the payout will be par if all of the indexes close above their initial levels. Alternatively, investors will be paid par if no index closes below the 70% knock-in level during the life of the notes. 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $980,000
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| Maturity: | Aug. 2, 2023
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| Coupon: | 11.75% annual rate, paid quarterly if the worst performing index 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: | Par if all of the indexes close above initial levels; par if no index closes below the 70% knock-in level during the life of the notes; otherwise, investors will be fully exposed to the decline in the worst performing index
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| Call: | At par starting July 28, 2022 and on any subsequent quarterly review date at option of issuer
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| Initial levels: | 14,454.61 for Nasdaq, 1,968.508 for Russell, 4,431.85 for S&P
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| Coupon barriers: | 10,118.227 for Nasdaq, 1,377.956 for Russell, 3,102.295 for S&P, 70% of initial levels
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| Knock-in levels: | 9,395.497 for Nasdaq, 1,279.53 for Russell, 2,880.703 for S&P, 65% of initial levels
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| Pricing date: | Jan. 28
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| Settlement date: | Feb. 2
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.725%
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| Cusip: | 17330AEA6
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