Published on 3/25/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $300,000 equity-linked securities on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, March 27 – Citigroup Global Markets Holdings Inc. priced $300,000 of equity-linked securities due June 5, 2024 tied to the worst performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 8.15% per year, payable monthly.
The payout at maturity will be par unless any index finishes below its initial level and any index closes below 50% of its initial level on any trading day, in which case investors will be fully exposed to the decline of the worst performer from its initial level.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Equity-linked securities
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Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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Amount: | $300,000
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Maturity: | June 5, 2024
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Coupon: | 8.15% per year, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any index finishes below its initial level and any index closes below 50% of its initial level on any trading day, in which case investors will be fully exposed to the decline of the worst performer
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Initial levels: | 4,080.11 for S&P, 1,886.577 for Russell, 12,030.06 for Nasdaq
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Barrier levels: | 2,040.055 for S&P, 943.289 for Russell, 6,015.030 for Nasdaq; 50% of initial levels
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Pricing date: | Nov. 30, 2022
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Settlement date: | Dec. 5, 2022
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.7%
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Cusip: | 17330YFP0
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