Published on 10/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $285,000 16% callable contingent coupon notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, Oct. 10 – Citigroup Global Markets Holdings Inc. priced $285,000 of callable contingent coupon equity linked securities due June 27, 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.
Investors will receive a coupon of 16% paid monthly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date.
The securities may be called starting Sept. 25, 2023 on a monthly review date.
At maturity the payout will be par if all of the indexes never close below the 75% knock-in level during the life of the notes or the worst performing index ends above its initial level. Otherwise investors will be fully exposed to the decline of the worst performing index.
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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $285,000
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| Maturity: | June 27, 2024
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| Coupon: | 16% paid monthly if the worst performing index 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: | Par if all of the indexes never close below the knock-in level during the life of the notes or the worst performing index ends above its initial level, otherwise investors will be fully exposed to the decline in the worst performing index
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| Call: | Starting Sept. 25, 2023 on a monthly review date
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| Initial levels: | 12,767.05 for Nasdaq index, 1,734.923 for Russell, 3,970.99 for S&P
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| Coupon barriers: | 9,575.288 for Nasdaq index, 1,301.192 for Russell, 2,978.243 for S&P, 75% of initial levels
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| Knock-in levels: | 9,575.288 for Nasdaq index, 1,301.192 for Russell, 2,978.243 for S&P, 75% of initial levels
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| Pricing date: | March 24, 2023
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| Settlement date: | March 29, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17331H6V3
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