Published on 6/30/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $602,000 8% equity-linked securities on S&P, Dow, Nasdaq
By Kiku Steinfeld
Chicago, June 30 – Citigroup Global Markets Holdings Inc. priced $602,000 of equity-linked securities due Oct. 8, 2024 tied to the performance of the S&P 500 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B8 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 8% per year, payable monthly.
If each index finishes at or above 70% of its initial level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the 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 indexes: | S&P 500 index, Dow Jones industrial average, Nasdaq-100 index
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Amount: | $602,000
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Maturity: | Oct. 8, 2024
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Coupon: | 8% per year, payable monthly
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Price: | Par
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Payout at maturity: | If each index finishes at or above barrier, par; otherwise, full exposure to decline of worst performer from initial level
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Initial levels: | 4,179.76 for S&P, 34,053.94 for Dow, 12,803.14 for Nasdaq
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Barrier levels: | 2,925.832 for S&P, 23,837.758 for Dow, 8,962.198 for Nasdaq; 70% of initial levels
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Pricing date: | Feb. 3, 2023
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Settlement date: | Feb. 8, 2023
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.34%
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Cusip: | 17331CMP9
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