Published on 12/19/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.93 million 14.85% contingent income callable securities on indexes
New York, Dec. 19 – Citigroup Global Markets Holdings Inc. priced $3.93 million of contingent income callable securities due Oct. 29, 2024 linked to 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 an annualized coupon of 14.85%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on every day that quarter.
The securities may be called on any quarterly determination date after six months.
If the worst performing index gains or ends above its downside threshold the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
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: | Contingent income callable securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $3,925,000
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| Maturity: | Oct. 29, 2024
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| Coupon: | 14.85%, paid quarterly, if each underlying index closes at or above its downside threshold on every day that quarter
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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| Call: | On any quarterly payment date after six months at par
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| Initial levels: | 1,748.397 for Russell, 3,797.34 for S&P, 11,430.26 for Nasdaq
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| Downside thresholds: | 1,223.878 for Russell, 2,658.138 for S&P, 8,001.182 for Nasdaq, 70% of initial levels
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| Pricing date: | Oct. 24
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| Settlement date: | Oct. 27
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.25% including a structuring fee of 0.5%
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| Cusip: | 17330Y3N8
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