Published on 10/16/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.56 million 15.1% callable contingent coupon equity notes on indexes
Chicago, Oct. 16 – Citigroup Global Markets Holdings Inc. priced $1.56 million of callable contingent coupon equity-linked securities due Jan. 11, 2024 linked to the worst performing of the 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 15.1% paid monthly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date.
The securities may be called at par starting April 10, 2023 and on any subsequent monthly review date.
At maturity the payout will be par if all of the indexes never close below the 75% knock-in level during the life of the notes or the worst performing index ends above its initial level. Otherwise, investors will be fully exposed to the decline of the worst performing index.
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: | Russell 2000 index and S&P 500 index
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| Amount: | $1,561,000
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| Maturity: | Jan. 11, 2024
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| Coupon: | 15.1% annual rate, paid monthly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | Par if all of the indexes never close below the knock-in level during the life of the notes or the worst performing index ends above its initial level, otherwise investors will be fully exposed to the decline in the worst performing index
|
| Call: | At par starting April 10, 2023 and on any subsequent monthly review date
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| Initial levels: | 1,702.150 for Russell, 3,639.66 for S&P
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| Coupon barriers: | 1,276.613 for Russell, 2,729.745 for S&P, 75% of initial levels
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| Knock-in levels: | 1,276.613 for Russell, 2,729.745 for S&P, 75% of initial levels
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| Pricing date: | Oct. 7, 2022
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| Settlement date: | Oct. 13, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17330RLY9
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