Published on 12/27/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $8.32 million 12.15% contingent income callable notes on indexes
New York, Dec. 27 – Citigroup Global Markets Holdings Inc. priced $8.32 million of contingent income callable securities due Dec. 30, 2024 linked to the Euro Stoxx 50 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annualized coupon of 12.15%, paid quarterly, if each underlying index closes at or above its 70% downside threshold every day that quarter.
The securities may be called on any determination date after six months.
If the worst performing index gains or ends above its 70% downside threshold the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
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: | Contingent income callable securities
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| Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index and S&P 500 index
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| Amount: | $8,317,000
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| Maturity: | Dec. 30, 2024
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| Coupon: | 12.15%, paid quarterly, if each underlying index closes at or above its 70% downside threshold every day that quarter
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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| Call: | Callable on any determination date after six months
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| Initial levels: | 1,748.017 for Russell, 3,821.62 for S&P, 3,802.49 for Stoxx
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| Downside thresholds: | 1,223.612 for Russell, 2,675,134 for S&P, 2,661.743 for Stoxx, 70% of initial level
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 23
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.93% including a structuring fee of 0.43%
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| Cusip: | 17330YZH6
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