Published on 11/6/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.08 million 12% callable contingent coupon notes linked to SPDR funds
New York, Nov. 6 – Citigroup Global Markets Holdings Inc. priced $1.08 million of callable contingent coupon equity linked securities due Nov. 5, 2024 linked to the Energy Select Sector SPDR Fund, Health Care Select Sector SPDR Fund and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12% paid quarterly if the worst performing ETF closes at or above its 50% coupon barrier on the related valuation date.
The securities may be called starting Jan. 31, 2023 and on any subsequent quarterly review date.
The payout at maturity will be par if the worst performing ETF ends at or above its 50% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing ETF 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 ETFs: | Energy Select Sector SPDR Fund, Health Care Select Sector SPDR Fund and SPDR S&P 500 ETF Trust
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| Amount: | $1,077,000
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| Maturity: | Nov. 5, 2024
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| Coupon: | 12% paid quarterly if the worst performing ETF closes at or above its 50% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing ETF finishes at or above final barrier par; 1% loss for every 1% that worst performing ETF declines if it ends below final barrier
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| Call: | Starting Jan. 31, 2023 and on any subsequent quarterly review date
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| Initial levels: | $90.00 for Energy Select Sector SPDR Fund, $132.75 for Health Care Select Sector SPDR Fund, $386.21 for SPDR S&P 500 ETF Trust
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| Coupon barriers: | $45.000 for Energy Select Sector SPDR Fund, $66.375 for Health Care Select Sector SPDR Fund, $193.105 for SPDR S&P 500 ETF Trust, 50% of initial levels
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| Final barriers: | $45.000 for Energy Select Sector SPDR Fund, $66.375 for Health Care Select Sector SPDR Fund, $193.105 for SPDR S&P 500 ETF Trust, 50% of initial levels
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| Pricing date: | Oct. 31, 2022
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| Settlement date: | Nov. 3, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17330DLA2
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