Published on 12/14/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $482,000 6.1% callable contingent coupon notes on Dow, Russell, S&P
By Kiku Steinfeld
Chicago, Dec. 14 – Citigroup Global Markets Holdings Inc. priced $482,000 of callable contingent coupon equity linked securities due April 23, 2026 linked to the Dow Jones industrial average, 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 6.1% paid monthly if the worst performing index closes at or above its 70% coupon threshold on the related valuation date.
The securities may be called starting Oct. 18, 2022 at par 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: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $482,000
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| Maturity: | April 23, 2026
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| Coupon: | 6.1% paid monthly if the worst performing index closes at or above its coupon threshold 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. 18, 2022 at par and on any subsequent quarterly review date
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| Initial levels: | 34,411.69 for Dow, 1,990.134 for Russell, 4,391.69 for S&P
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| Coupon barrier: | 24,088.183 for Dow, 1,393.094 for Russell, 3,074.183 for S&P, 70% of initial levels
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| Final buffers: | 24,088.183 for Dow, 1,393.094 for Russell, 3,074.183 for S&P, 70% of initial levels
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| Pricing date: | April 18
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| Settlement date: | April 21
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17330FBP5
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