Published on 9/20/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.01 million callable contingent coupon equity linked securities on indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 20 – Citigroup Global Markets Holdings Inc. priced $1.01 million of callable contingent coupon equity linked securities due Sept. 5, 2025 linked to the worst performing of 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 9.75% if the worst performing index closes at or above its 70% coupon barrier on the related quarterly valuation date.
The securities may be called at par starting Aug. 30, 2023 and on any subsequent quarterly review date at the option of the issuer.
The payout at maturity will be par if the worst performing index ends at or above its 70% 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $1.01 million
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Maturity: | Sept. 5, 2025
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Coupon: | 9.75% annual rate, payable quarterly 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: | Starting Aug. 30, 2023 at par and on any subsequent quarterly review date at option of issuer
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Initial levels: | 12,342.7 for Nasdaq, 1,855.594 for Russell, 3,986.16 for S&P
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Coupon barriers: | 8,639.89 for Nasdaq, 1,298.916 for Russell, 2,790.312 for S&P, 70% of initial levels
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Final barriers: | 8,639.89 for Nasdaq, 1,298.916 for Russell, 2,790.312 for S&P, 70% of initial levels
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Pricing date: | Aug. 30
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Settlement date: | Sept. 2
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2.95%
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Cusip: | 17330RF91
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