Published on 6/24/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $739,000 10.5% callable equity notes on three indexes
By Kiku Steinfeld
Chicago, June 26 – Citigroup Global Markets Holdings Inc. priced $739,000 of 10.5% callable equity linked securities due Feb. 2, 2024 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 10.5% per year, payable monthly.
If the worst performing index gains or declines but ends above its 70% downside threshold, the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
The securities may be called at par on any monthly determination date beginning in August 2023.
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 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: | $739,000
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Maturity: | Feb. 2, 2024
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Coupon: | 10.5% per year, payable monthly
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Price: | Par
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Payout at maturity: | Par if worst performing index finishes at or above its downside threshold level; otherwise 1% loss for every 1% that worst performing index declines
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Call: | At par on any monthly determination date beginning in August 2023
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Initial levels: | 12,101.93 for Nasdaq, 1,931.945 for Russell, 4,076.60 for S&P
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Downside threshold levels: | 8,471.351 for Nasdaq, 1,352.362 for Russell, 2,853.62 for S&P, 70% of initial levels
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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: | 0.35%
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Cusip: | 17331CET0
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