Published on 5/15/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $39.44 million 15% contingent income callable securities on indexes
New York, May 15 – Citigroup Global Markets Holdings Inc. priced $39.44 million of contingent income callable securities due Nov. 14, 2025 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 15%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on every day that quarter.
The securities may be called at par on any determination date.
If the worst performing index gains or ends above its 70% downside threshold the payout at maturity will be par plus the contingent coupon, if any. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
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 income callable securities
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $39.44 million
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Maturity: | Nov. 14, 2025
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Coupon: | 15%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier every day that quarter
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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Call: | At par on any determination date
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Initial levels: | 13,347.83 for Nasdaq, 1,759.512 for Russell, 4,137.64 for S&P
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Downside thresholds: | 9,343.481 for Nasdaq, 1,231.658 for Russell, 2,896.348 for S&P, 70% of initial level
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Coupon barriers: | 10,010.873 for Nasdaq, 1,319.634 for Russell, 3,103.23 for S&P, 75% of initial levels
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Pricing date: | May 10
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Settlement date: | May 15
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.6071% including a structuring fee of 0.3571%
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Cusip: | 17331HN77
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