Published on 10/4/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $870,000 12% callable contingent coupon notes on Dow, Nasdaq, Russell
By Kiku Steinfeld
Chicago, Oct. 4 – Citigroup Global Markets Holdings Inc. priced $870,000 of callable contingent coupon equity linked securities due March 26, 2025 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.
Investors will receive a coupon of 12% paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called starting June 21, 2023 on a monthly review date.
The payout at maturity will be par if the worst performing index ends at or above its 60% final barrier. Otherwise investors will lose 1% for every 1% that the worst performing index declines.
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 indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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Amount: | $870,000
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Maturity: | March 26, 2025
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Coupon: | 12% paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above final barrier par; 1% loss for every 1% that worst performing index declines if it ends below final barrier
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Call option: | Starting June 21, 2023 on a monthly review date
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Initial levels: | 31,861.98 for Dow Jones industrial average, 12,519.88 for Nasdaq-100 index, 1,725.891 for Russell 2000 index
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Coupon barriers: | 22,303.386 for Dow, 8,763.916 for Nasdaq index, 1,208.124 for Russell, 70% of initial levels
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Final barriers: | 19,117.188 for Dow, 7,511.928 for Nasdaq index, 1,035.535 for Russell, 60% of initial levels
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Pricing date: | March 21, 2023
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Settlement date: | March 24, 2023
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.35%
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Cusip: | 17331H2D7
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