Published on 10/17/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $9.66 million 15.1% contingent income callable securities on indexes
New York, Oct. 17 – Citigroup Global Markets Holdings Inc. priced $9.66 million of contingent income callable securities due Oct. 16, 2025 linked to the Russell 2000 index, S&P 500 index and Topix index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15.1%, paid quarterly, if each underlying index closes at or above its 80% coupon barrier every day that quarter.
The securities may be called at par on any quarterly call date.
If the worst performing index gains or ends above its 80% downside threshold the payout at maturity will be par plus the contingent coupon, if any. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
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: | Contingent income callable securities
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| Underlying indexes: | Russell 2000 index, S&P 500 index and Topix index
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| Amount: | $9.66 million
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| Maturity: | Oct. 16, 2025
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| Coupon: | 15.1%, paid quarterly, if each underlying index closes at or above its 80% coupon barrier on every day that quarter
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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| Call: | At par on any determination date
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| Initial levels: | 1,775.946 for Russell 2000 index, 4,358.24 for S&P 500 index, 2,312.19 for TOPIX index
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| Downside thresholds: | 1,420.757 for Russell 2000 index, 3,486.592 for S&P 500 index, 1,849.752 for TOPIX index, 80% of initial level
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| Coupon barriers: | 1,420.757 for Russell 2000 index, 3,486.592 for S&P 500 index, 1,849.752 for TOPIX index, 80% of initial levels
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| Pricing date: | Oct. 10
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| Settlement date: | Oct. 13
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2% including a structuring fee of 0.5%
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| Cusip: | 17291QZ56
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