Published on 4/24/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $695,000 12.5% callable contingent coupon notes on indexes
By Kiku Steinfeld
Chicago, April 24 – Citigroup Global Markets Holdings Inc. priced $695,000 of callable contingent coupon equity linked securities due June 26, 2025 linked to the Dow Jones industrial average, Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.5% paid monthly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date.
The securities may be called at par starting Dec. 22, 2023 on any semiannual determination 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: | Dow Jones industrial average, Nasdaq-100 index and S&P 500 index
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Amount: | $695,000
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Maturity: | June 26, 2025
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Coupon: | 12.5% paid monthly if the worst performing index closes at or above its 80% 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 Dec. 22, 2023 at par and on any semiannual determination date
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Initial levels: | 33,027.49 for Dow, 10,956.14 for Nasdaq, 3,822.39 for S&P 500 index
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Coupon barriers: | 26,421.992 for Dow, 8,764.91 for Nasdaq, 3,057.912 for S&P, 80% of initial levels
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Final barriers: | 23,119.243 for Dow, 7,669.298 for Nasdaq, 2,675.673 for S&P, 70% of initial levels
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Pricing date: | Dec. 22, 2022
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Settlement date: | Dec. 28, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17330YX39
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