Published on 2/27/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $687,000 callable contingent coupon equity notes on Russell, S&P
Chicago, Feb. 27 – Citigroup Global Markets Holdings Inc. priced $687,000 of callable contingent coupon equity linked securities due May 14, 2025 linked to the worst performing of the 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 8.85% paid quarterly 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 starting Nov. 9, 2022 and on any subsequent quarterly review date.
The payout at maturity will be par if the worst performing index ends at or above its 50% 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: | Russell 2000 index and S&P 500 index
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| Amount: | $687,000
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| Maturity: | May 14, 2025
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| Coupon: | 8.85% annual rate, paid quarterly 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; 1% loss for every 1% that worst performing index declines if it ends below final barrier
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| Call: | At par starting Nov. 9, 2022 and on any subsequent quarterly review date
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| Initial levels: | 1,871.148 for Russell, 4,146.87 for S&P
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| Coupon barriers: | 1,309.804 for Russell, 2,902.809 for S&P, 70% of initial levels
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| Final barriers: | 935.574 for Russell, 2,073.435 for S&P, 50% of initial levels
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| Pricing date: | May 9, 2022
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| Settlement date: | May 12, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17330FTL5
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