Published on 6/24/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $659,000 0% barrier level securities on three indexes
By Kiku Steinfeld
Chicago, June 26 – Citigroup Global Markets Holdings Inc. priced $659,000 of 0% barrier level securities due Feb. 4, 2027 linked to the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains, the payout at maturity will be par plus 200% of the worst performing index return, subject to a maximum return of par plus $1,000 per security. Investors will receive par if the worst performing index declines but ends above the 70% barrier level and will lose 1% for every 1% that the worst performing index declines if it finishes below the barrier level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Barrier level securities
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $659,000
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| Maturity: | Feb. 4, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains, par plus 200% of worst performing index return, subject to a maximum return of par plus $1,000 per note; par if worst performing index declines but finishes above the 70% barrier level; otherwise exposure to decline in worst performing index
|
| Upside leverage: | 200%
|
| Cap: | 100%
|
| Initial levels: | 34,086.04 for Dow, 12,101.93 for Nasdaq, 1,931.945 for Russell
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| Final barrier levels: | 23,860.228 for Dow, 8,471.351 for Nasdaq, 1,352.362 for Russell, 70% of initial levels
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| Call: | Non-callable
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| Pricing date: | Jan. 31, 2023
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| Settlement date: | Feb. 3, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.1%
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| Cusip: | 17331C2V8
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