Published on 8/18/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $99.78 million 9.52% callable equity linked notes on three indexes
New York, Aug. 18 – Citigroup Global Markets Holdings Inc. priced $99.78 million of 9.52% callable equity linked securities due Aug. 16, 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.
If the worst performing index finishes at or 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 starting in February 2024 at par and on any subsequent coupon payment date.
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: | $99,782,000
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| Maturity: | Aug. 16, 2024
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| Coupon: | 9.52%
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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: | Starting in February 2024 at par and on any subsequent coupon payment date
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| Initial levels: | 15,028.07 for Nasdaq-100 index, 1,925.114 for Russell 2000 index, 4,464.05 for S&P 500 index
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| Downside thresholds: | 10,519.649 for Nasdaq-100 index, 1,347.580 for Russell 2000 index, 3,124.835 for S&P 500 index, 70% of initial level
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| Pricing date: | Aug. 11
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| Settlement date: | Aug. 16
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.45%
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| Cusip: | 17291RXG2
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