Published on 10/30/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $244,000 9% callable equity linked securities on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, Oct. 30 – Citigroup Global Markets Holdings Inc. priced $244,000 of 9% callable equity linked securities due April 5, 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 9% per year, payable monthly.
If the worst performing index gains or declines but ends 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 October 2023 at par on any monthly determination date.
If the notes are not called, the payout at maturity will be par unless the final level of any index is less than 70% of the initial level, in which case investors will be fully exposed to the losses of the worst performer.
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: | $244,000
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| Maturity: | April 5, 2024
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| Coupon: | 9%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless the final level of any index is less than 70% of the initial level, in which case investors will be fully exposed to the losses of the worst performer
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| Call: | Starting in October 2023 at par on any monthly determination date
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| Initial levels: | 13,181.35 for Nasdaq index, 1,802.484 for Russell, 4,109.31 for S&P
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| Triggers: | 9,226.945 for Nasdaq index, 1,261.739 for Russell, 2,876.517 for S&P, 70% of initial levels
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| Pricing date: | March 31, 2023
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| Settlement date: | April 5, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.35%
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| Cusip: | 17331HCR5
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