Published on 12/8/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.65 million 11.6% callable contingent coupon notes on Nasdaq, Russell
New York, Dec. 8 – Citigroup Global Markets Holdings Inc. priced $2.65 million of callable contingent coupon equity linked securities due Oct. 16, 2025 linked to the Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annualized coupon of 11.6% 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 starting Oct. 11, 2023 and on any subsequent quarterly review date.
The payout at maturity will be par if the worst performing index gains or declines by no more than its 30% buffer. Otherwise investors will lose 1% for every 1% that the worst performing index declines beyond the buffer.
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 Russell 2000 index
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Amount: | $2,654,000
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Maturity: | Oct. 16, 2025
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Coupon: | 11.6% 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 its final buffer par; 1% loss for every 1% that worst performing index declines beyond the buffer
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Call: | Starting Oct. 11, 2023 and on any subsequent quarterly review date
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Initial levels: | 10,791.35 for Nasdaq-100 index, 1,692.916 for Russell 2000 index
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Coupon barriers: | 7,553.945 for Nasdaq-100 index, 1,185.041 for Russell 2000 index, 70% of initial levels
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Buffer: | 30%
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Final buffers: | 7,553.945 for Nasdaq-100 index, 1,185.041 for Russell 2000 index, 70% of initial levels
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Pricing date: | Oct. 11
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Settlement date: | Oct. 14
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.1%
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Cusip: | 17330Y2L3
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