Published on 10/27/2022 in the Prospect News Structured Products Daily.
New Issue: Citi revises amount of callable contingent coupon equity linked securities to $15.34 million
By Wendy Van Sickle
Columbus, Ohio, Oct. 27 – Citigroup Global Markets Holdings Inc. priced $15.34 million of callable contingent coupon equity linked securities due April 22, 2024 linked to the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to an amended 424B2 filing with the Securities and Exchange Commission. The issuer had previously reported a deal size that was $20,000 smaller.
Investors will receive a contingent coupon of 11.4% per year, paid monthly, 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 on any monthly review date after one year.
The payout at maturity will be par if the worst performing index ends at or above its 60% 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: | S&P 500 index, Nasdaq-100 index and Russell 2000 index
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| Amount: | $15,344,000
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| Maturity: | April 22, 2024
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| Coupon: | 11.4% per year, paid monthly 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: | If worst performing index finishes at or above final barrier, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call option: | At par on any monthly review date after one year
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| Initial levels: | 3,677.95 for S&P 500 index, 11,062.53 for Nasdaq-100 index, 1,735.753 for Russell 2000 index
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| Coupon barriers: | 2,574.565 for S&P 500 index, 7,743.771 for Nasdaq-100 index, 1,215.027 for Russell 2000 index, 70% of initial levels
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| Final barriers: | 2,206.77 for S&P 500 index, 6,637.518 for Nasdaq-100 index, 1,041.452 for Russell 2000 index, 60% of initial levels
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| Pricing date: | Oct. 17
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| Settlement date: | Oct. 20
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.725%
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| Cusip: | 17330RYF6
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