Published on 8/14/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.12 million callable contingent coupon equity linked notes on indexes, ETF
New York, Aug. 14 – Citigroup Global Markets Holdings Inc. priced $1.12 million of callable contingent coupon equity linked securities due Aug. 7, 2026 linked to the Russell 2000 index, the S&P 500 index and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.9%, paid monthly, if the worst performing underlier closes at or above its 75% coupon barrier on the related valuation date.
The securities may be called at par on any monthly review date starting Aug. 5, 2024.
The payout at maturity will be par if the worst performing underlier finishes at or above 80% of initial level. Otherwise, investors will lose 1% for every 1% that the worst performing underlier declines beyond 20%.
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 assets: | Russell 2000 index, S&P 500 index and Utilities Select Sector SPDR Fund
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| Amount: | $1,115,000
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| Maturity: | Aug. 7, 2026
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| Coupon: | 8.9%, paid monthly if the worst performing underlier closes at or above its 75% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing underlier finishes at or above its final buffer, par; otherwise, 1% loss for every 1% that worst performing underlier declines beyond 20%
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| Call option: | At par on any monthly review date starting Aug. 5, 2024
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| Initial levels: | 1,957.463 for Russell 2000 index, 4,478.03 for S&P 500 index, $63.99 for Utilities Select Sector SPDR Fund
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| Coupon barriers: | 1,468.097 for Russell 2000 index, 3,358.523 for S&P 500 index, $47.993 for Utilities Select Sector SPDR Fund, 75% of initial levels
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| Buffer: | 20%
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| Final buffers: | 1,565.970 for Russell 2000 index, 3,582.424 for S&P 500 index, $51.192 for Utilities Select Sector SPDR Fund, 80% of initial levels
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| Pricing date: | Aug. 4
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| Settlement date: | Aug. 9
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17291RY89
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