Published on 9/28/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $340,000 10.78% callable contingent coupon notes on Nasdaq, Russell, S&P
By Angela McDaniels
Tacoma, Wash., Sept. 28 – Citigroup Global Markets Holdings Inc. priced $340,000 of callable contingent coupon equity linked securities due Sept. 26, 2024 linked to 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.
Investors will receive a coupon of 10.78% paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called at par starting Dec. 23, 2022 on any monthly review date.
The payout at maturity will be par if the worst performing index ends at or above its 60% final barrier. Otherwise investors will lose 1% for every 1% that the worst performing index 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 indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $340,000
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Maturity: | Sept. 26, 2024
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Coupon: | 10.78% paid monthly if the worst performing index closes at or above its coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above final barrier par; 1% loss for every 1% that worst performing index declines if it ends below final barrier
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Call: | Starting Dec. 23, 2022 at par on any monthly review date
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Initial levels: | 11,311.24 for Nasdaq, 1,679.59 for Russell and 3,693.23 for S&P
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Coupon barriers: | 7,917.868 for Nasdaq, 1,175.713 for Russell and 2,585.261 for S&P, 70% of initial levels
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Final barriers: | 6,786.744 for Nasdaq, 1,007.754 for Russell and 2,215.938 for S&P, 60% of initial levels
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Pricing date: | Sept. 23, 2022
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Settlement date: | Sept. 28, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.75%
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Cusip: | 17330RGB5
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