Published on 2/25/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $586,000 13.8% callable equity linked securities on indexes
By Kiku Steinfeld
Chicago, Feb. 27 – Citigroup Global Markets Holdings Inc. priced $586,000 of 13.8% callable equity linked securities due Feb. 23, 2024 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the coupon unless the worst performing index finishes below its initial level and any index has closed below its 75% downside threshold on any trading day during the life of the notes, in which case investors will lose 1% for every 1% that the worst performing index declines.
The securities may be called starting May 2023 at par and on any subsequent monthly review date.
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: | Russell 2000 index and S&P 500 index
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| Amount: | $586,000
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| Maturity: | Feb. 23, 2024
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| Coupon: | 13.8%
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| Price: | Par
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| Payout at maturity: | Par plus the coupon unless the worst performing index finishes below its initial level and any index closes below its 75% downside threshold on any trading day, in which case full exposure to losses of the least performer
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| Call: | Starting May 2023 at par and on any subsequent monthly review date
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| Initial levels: | 1,849.732 for Russell, 3,965.34 for S&P
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| Downside thresholds: | 1,387.299 for Russell, 2,974.005 for S&P, 75% of initial level
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| Pricing date: | Nov. 18, 2022
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| Settlement date: | Nov. 23, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17330YFB1
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