Published on 11/6/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.25 million 10% callable contingent coupon notes on three indexes
By Kiku Steinfeld
Chicago, Nov. 7 – Citigroup Global Markets Holdings Inc. priced $1.25 million of callable contingent coupon equity linked securities due Dec. 14, 2023 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 10% paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called starting June 9 at par and on any subsequent monthly review date.
At maturity the payout will be par if all of the indexes never close below the 60% 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: | $1.25 million
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| Maturity: | Dec. 14, 2023
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| Coupon: | 10% paid monthly 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: | 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 June 9 at par and on any subsequent monthly review date
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| Initial levels: | 13,742.20 for Nasdaq, 2,016.291 for Russell, 4,277.88 for S&P
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| Coupon barriers: | 9,619.540 for Nasdaq, 1,411.404 for Russell, 2,994.516 for S&P, 70% of initial levels
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| Knock-in levels: | 8,245.320 for Nasdaq, 1,209.775 for Russell, 2,566.728 for S&P, 60% of initial levels
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| Pricing date: | March 9
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| Settlement date: | March 14
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.225%
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| Cusip: | 17330AH96
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