Published on 6/27/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.6 million callable contingent coupon equity linked securities on Dow, ETFs
New York, June 27 – Citigroup Global Markets Holdings Inc. priced $1.6 million of callable contingent coupon equity linked securities due June 26, 2025 linked to the Dow Jones industrial average, the SPDR S&P Regional Banking ETF and the VanEck Vectors Oil Services ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15%, paid quarterly, if the worst performing underlier closes at or above its 59.55% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities may be called at par on any quarterly review date starting Dec. 21, 2023.
The payout at maturity will be par if the worst performing underlier ends at or above its 59.55% final barrier.
Otherwise, investors will lose 1% for every 1% that the worst performing underlier 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: | Dow Jones industrial average, SPDR S&P Regional Banking ETF and VanEck Vectors Oil Services ETF
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| Amount: | $1.6 million
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| Maturity: | June 26, 2025
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| Coupon: | 15%, paid quarterly if the worst performing underlier closes at or above its 59.55% coupon barrier on the related valuation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If worst performing underlier finishes at or above final barrier par; otherwise, 1% loss for every 1% that worst performing underlier declines if it ends below final barrier
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| Call option: | At par on any quarterly review date starting Dec. 21, 2023
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| Initial levels: | 33,951.52 for Dow Jones industrial average, $41.47 for SPDR S&P Regional Banking ETF, $275.62 for VanEck Vectors Oil Services ETF
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| Coupon barriers: | 20,218.130 for Dow Jones industrial average, $24.695 for SPDR S&P Regional Banking ETF, $164.132 for VanEck Vectors Oil Services ETF, 59.55% of initial levels
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| Final barriers: | 20,218.130 for Dow Jones industrial average, $24.695 for SPDR S&P Regional Banking ETF, $164.132 for VanEck Vectors Oil Services ETF, 59.55% of initial levels
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| Pricing date: | June 21
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| Settlement date: | June 26
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17291RD66
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