Published on 8/21/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $501,000 equity-linked securities on index, stock
Chicago, Aug. 21 – Citigroup Global Markets Holdings Inc. priced $501,000 of equity-linked securities due Dec. 6, 2024 tied to the performance of the S&P 500 index and the shares of JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 8.55% per year, payable monthly.
If each underlier finishes at or above 60% of its initial level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Equity-linked securities
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| Underlying assets: | S&P 500 index, JPMorgan Chase & Co.
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| Amount: | $501,000
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| Maturity: | Dec. 6, 2024
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| Coupon: | 8.55% per year, payable monthly
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| Price: | Par
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| Payout at maturity: | If each underlier finishes at or above barrier, par; otherwise, full exposure to decline of worst performer
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| Initial levels: | $112.43 for stock, 4,091.19 for S&P
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| Barrier levels: | $67.458 for stock, 2,454.714 for S&P; 60% of initial levels
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| Strike date: | Aug. 2, 2022
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| Pricing date: | Aug. 3, 2022
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| Settlement date: | Aug. 8, 2022
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.47%
|
| Cusip: | 17330PX87
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