Published on 3/9/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $510,000 8.1% callable contingent coupon equity notes on indexes
Chicago, March 9 – Citigroup Global Markets Holdings Inc. priced $510,000 of callable contingent coupon equity linked securities due May 21, 2026 linked to the worst performing of 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 a coupon of 8.1% 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 at par starting Nov. 16, 2022 and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing index gains or declines by no more than its 25% 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, Russell 2000 index and S&P 500 index
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| Amount: | $510,000
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| Maturity: | May 21, 2026
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| Coupon: | 8.1% annual rate, 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: | At par starting Nov. 16, 2022 and on any subsequent monthly review date
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| Initial levels: | 12,243.58 for Nasdaq, 1,783.427 for Russell, 4,008.01 for S&P
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| Coupon barriers: | 8,570.506 for Nasdaq, 1,248.399 for Russell, 2,805.607 for S&P, 70% of initial levels
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| Buffer: | 25%
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| Final buffer levels: | 9,182.685 for Nasdaq, 1,337.570 for Russell, 3,006.008 for S&P, 75% of initial levels
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| Pricing date: | May 16, 2022
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| Settlement date: | May 19, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17330FXS5
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