Published on 11/7/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $500,000 6.6% callable contingent coupon notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, Nov. 7 – Citigroup Global Markets Holdings Inc. priced $500,000 of callable contingent coupon equity linked securities due March 11, 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 6.6% paid monthly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities may be called starting Oct. 6, 2023 on a monthly review date.
The payout at maturity will be par if the worst performing index gains or declines by no more than its 30% buffer. Otherwise investors will lose 1.428571% for every 1% that the worst performing index declines beyond the buffer.
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: | $500,000
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| Maturity: | March 11, 2024
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| Coupon: | 6.6% paid monthly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its final buffer par; 1.428571% loss for every 1% that worst performing index declines beyond the buffer
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| Call: | Starting Oct. 6, 2023 on a monthly review date
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| Initial levels: | 13,062.60 for Nasdaq index, 1,754.464 for Russell, 4,105.02 for S&P
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| Coupon barriers: | 9,796.950 for Nasdaq index, 1,315.848 for Russell, 3,078.765 for S&P, 75% of initial levels
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| Buffer: | 30%
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| Final buffers: | 9,143.82 for Nasdaq index, 1,228.125 for Russell, 2,873.514 for S&P, 70% of initial levels
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| Pricing date: | April 6, 2023
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| Settlement date: | April 12, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.3%
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| Cusip: | 17331HRQ1
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