Published on 3/28/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $730,000 9.7% contingent coupon notes on S&P, Russell
By Kiku Steinfeld
Chicago, March 28 – Citigroup Global Markets Holdings Inc. priced $730,000 of contingent coupon equity linked securities due Dec. 8, 2023 linked to the 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 9.7% paid quarterly if the worst performing index closes at or above its 60% coupon barrier on the related valuation 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: | Contingent coupon equity linked securities
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $730,000
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| Maturity: | Dec. 8, 2023
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| Coupon: | 9.7% paid quarterly if the worst performing index closes at or above its 60% coupon barrier on the related valuation date
|
| Price: | Par
|
| 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
|
| Call: | Non-callable
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| Initial levels: | 1,840.222 for Russell, 3,998.84 for S&P
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| Coupon barriers: | 1,104.133 for Russell, 2,399.304 for S&P, 60% of initial levels
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| Knock-in levels: | 1,104.133 for Russell, 2,399.304 for S&P, 60% of initial levels
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| Pricing date: | Dec. 5
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| Settlement date: | Dec. 8
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.725%
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| Cusip: | 17330YUX6
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