Published on 2/6/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $9.87 million 13% callable contingent coupon notes on indexes, ETF
New York, Feb. 6 – Citigroup Global Markets Holdings Inc. priced $9.87 million of callable contingent coupon equity linked securities due Aug. 5, 2027 linked to the Russell 2000 index, S&P 500 index and iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13% if the worst performing asset closes at or above its 80% coupon barrier on the related valuation date.
The securities may be called starting Nov. 1, 2023 and on any subsequent quarterly review date.
The payout at maturity will be par if the worst performing asset ends at or above its 60% final barrier. Otherwise investors will lose 1% for every 1% that the worst performing asset 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 assets: | Russell 2000 index, S&P 500 index and iShares MSCI EAFE ETF
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| Amount: | $9,874,000
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| Maturity: | Aug. 5, 2027
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| Coupon: | 13% if the worst performing asset closes at or above its 80% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above final barrier par; 1% loss for every 1% that worst performing asset declines if it ends below final barrier
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| Call: | Starting Nov. 1, 2023 and on any subsequent quarterly review date
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| Initial levels: | 1,960.814 for Russell 2000 index, 4,119.21 for S&P 500 index, $72.19 for iShares MSCI EAFE ETF
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| Coupon barriers: | 1,568.651 for Russell 2000 index, 3,295.368 for S&P 500 index, $57.752 for iShares MSCI EAFE ETF, 80% of initial levels
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| Final barriers: | 1,176.488 for Russell 2000 index, 2,471.526 for S&P 500 index, $43.314 for iShares MSCI EAFE ETF, 60% of initial levels
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| Pricing date: | Feb. 1
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| Settlement date: | Feb. 6
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.25%
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| Cusip: | 17331C6W2
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