Published on 5/9/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $152,000 10.5% callable equity linked securities on three indexes
By Kiku Steinfeld
Chicago, May 9 – Citigroup Global Markets Holdings Inc. priced $152,000 of 10.5% callable equity linked securities due Jan. 5, 2024 linked to the lesser performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is paid monthly.
If the lesser performing index gains or declines but ends above its 70% downside threshold, the payout at maturity will be par. Investors will lose 1% for every 1% that the lesser performing index declines if it finishes below its downside threshold level.
The securities may be called at par on any monthly review date after six months.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| 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: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $152,000
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| Maturity: | Jan. 5, 2024
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| Coupon: | 10.5% per year, payable monthly
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| Price: | Par
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| Payout at maturity: | Par if indexes finish at or above downside threshold levels; otherwise 1% loss for every 1% that lesser performing index declines
|
| Call option: | At par on any monthly review date after six months
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| Initial levels: | 10,939.76 for Nasdaq, 1,761.246 for Russell, 3,839.50 for S&P
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| Downside threshold levels: | 7,657.832 for Nasdaq, 1,232.872 for Russell, 2,687.65 for S&P; 70% of initial levels
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| Pricing date: | Dec. 30, 2022
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| Settlement date: | Jan. 5, 2023
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.35%
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| Cusip: | 17330YX88
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