Published on 5/16/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $47,000 8.5% callable equity linked securities linked to S&P
Chicago, May 16 – Citigroup Global Markets Holdings Inc. priced $47,000 of 8.5% callable equity linked securities due June 21, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Coupons will be paid monthly.
The securities may be called at par starting Dec. 21, 2022 and on any subsequent quarterly review date.
If the index gains or declines but ends above its 80% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the 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: | Callable equity linked securities
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| Underlying index: | S&P 500 index
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| Amount: | $47,000
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| Maturity: | June 21, 2024
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| Coupon: | 8.5% annual rate, payable monthly
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| Price: | Par
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| Payout at maturity: | Par if index finishes at or above its downside threshold level; otherwise, 1% loss for every 1% that index declines
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| Call: | Starting Dec. 21, 2022 at par and on any subsequent quarterly review date
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| Initial level: | 3,666.77
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| Downside threshold: | 2,933.416, 80% of initial level
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| Pricing date: | June 16, 2022
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| Settlement date: | June 22, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17330PJK6
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