Published on 7/14/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.1 million callable contingent coupon equity linked notes on indexes, ETF
New York, July 14 – Citigroup Global Markets Holdings Inc. priced $1.1 million of callable contingent coupon equity linked securities due April 3, 2025 linked to the Russell 2000 index, the S&P 500 index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.15%, paid monthly, if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called at par on any quarterly review date starting Jan. 2, 2024.
The payout at maturity will be par if the worst performing asset ends at or above its 60% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing asset declines.
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 contingent coupon equity linked securities
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Underlying assets: | Russell 2000 index, S&P 500 index and SPDR S&P Regional Banking ETF
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Amount: | $1,102,000
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Maturity: | April 3, 2025
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Coupon: | 14.15%, paid monthly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | If worst performing asset finishes at or above final barrier, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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Call option: | At par on any quarterly review date starting Jan. 2, 2024
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Initial levels: | 1,888.734 for Russell 2000 index, 4,450.38 for S&P 500 index, $40.83 for SPDR S&P Regional Banking ETF
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Coupon barriers: | 1,322.114 for Russell 2000 index, 3,115.266 for S&P 500 index, $28.581 for SPDR S&P Regional Banking ETF, 70% of initial levels
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Final barriers: | 1,133.240 for Russell 2000 index, 2,670.228 for S&P 500 index, $24.498 for SPDR S&P Regional Banking ETF, 60% of initial levels
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Pricing date: | June 30
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Settlement date: | July 6
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.875%
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Cusip: | 17291RNT5
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