Published on 11/6/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $863,000 15% callable contingent coupon notes on index, ETFs
Chicago, Nov. 6 – Citigroup Global Markets Holdings Inc. priced $863,000 of callable contingent coupon equity linked securities due Oct. 23, 2024 linked to the worst performing of the S&P 500 index, VanEck Vectors Semiconductor ETF and iShares Expanded Tech-Software Sector 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 asset closes at or above its 60% coupon barrier on the related valuation date.
The securities may be called at par starting April 18, 2023 and on any subsequent quarterly review date.
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: | S&P 500 index, VanEck Vectors Semiconductor ETF and iShares Expanded Tech-Software Sector ETF
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| Amount: | $863,000
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| Maturity: | Oct. 23, 2024
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| Coupon: | 15% annual rate, paid quarterly if the worst performing asset closes at or above its 60% 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; 1% loss for every 1% that worst performing asset declines if it ends below final barrier
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| Call: | At par starting April 18, 2023 and on any subsequent quarterly review date
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| Initial levels: | 3,719.98 for S&P, $177.29 for Semiconductor ETF, $255.53 for Tech-Software Sector ETF
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| Coupon barriers: | 2,231.988 for S&P, $106.374 for Semiconductor ETF, $153.318 for Tech-Software Sector ETF, 60% of initial levels
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| Final barriers: | 2,231.988 for S&P, $106.374 for Semiconductor ETF, $153.318 for Tech-Software Sector ETF, 60% of initial levels
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| Pricing date: | Oct. 18, 2022
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| Settlement date: | Oct. 21, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17330Y7M6
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