Published on 6/24/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $738,000 11.15% callable contingent coupon notes on indexes
By Kiku Steinfeld
Chicago, June 26 – Citigroup Global Markets Holdings Inc. priced $738,000 of callable contingent coupon equity linked securities due Feb. 5, 2026 linked to the Nasdaq-100 index, 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 11.15% 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 starting July 31, 2023 at par on any monthly review date.
The payout at maturity will be par if the worst performing index ends at or above its 70% 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: | $738,000
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Maturity: | Feb. 5, 2026
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Coupon: | 11.15% paid monthly if the worst performing index 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 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 July 31, 2023 at par on any monthly review date
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Initial levels: | 12,101.93 for Nasdaq, 1,931.945 for Russell, 4,076.60 for S&P
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Coupon barriers: | 8,471.351 for Nasdaq, 1,352.362 for Russell, 2,853.62 for S&P, 70% of initial levels
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Final barriers: | 8,471.351 for Nasdaq, 1,352.362 for Russell, 2,853.62 for S&P, 70% of initial levels
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Pricing date: | Jan. 31, 2023
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Settlement date: | Feb. 3, 2023
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.95%
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Cusip: | 17331CJ81
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