Published on 11/7/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $7.21 million callable contingent coupon equity linked notes on indexes, ETF
New York, Nov. 7 – Citigroup Global Markets Holdings Inc. priced $7.21 million of callable contingent coupon equity linked securities due Nov. 2, 2026 linked to the Russell 2000 index, the S&P 500 index and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.5% per year, paid monthly, if the worst performing asset closes at or above its 50% coupon barrier on the related valuation date.
The securities may be called at par on any monthly review date starting Oct. 30, 2023.
The payout at maturity will be par if the worst performing asset ends at or above its 50% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing asset 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 assets: | Russell 2000 index, S&P 500 index and VanEck Vectors Gold Miners ETF
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| Amount: | $7,212,000
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| Maturity: | Nov. 2, 2026
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| Coupon: | 14.5% paid monthly if the worst performing asset closes at or above its 50% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above final barrier, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call option: | At par on any monthly review date starting Oct. 30, 2023
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| Initial levels: | 1,846.921 for Russell 2000 index, 3,901.06 for S&P 500 index, $24.72 for VanEck Vectors Gold Miners ETF
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| Coupon barriers: | 923.461 for Russell 2000 index, 1,950.530 for S&P 500 index, $12.360 for VanEck Vectors Gold Miners ETF, 50% of initial levels
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| Final barriers: | 923.461 for Russell 2000 index, 1,950.530 for S&P 500 index, $12.360 for VanEck Vectors Gold Miners ETF, 50% of initial levels
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| Pricing date: | Oct. 28
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| Settlement date: | Nov. 2
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.95%
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| Cusip: | 17330YBR0
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