Published on 1/26/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.99 million callable contingent coupon equity linked notes on index, ETF
New York, Jan. 26 – Citigroup Global Markets Holdings Inc. priced $1.99 million of callable contingent coupon equity linked securities due Jan. 23, 2026 linked to the S&P 500 index and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.75% per year, paid semiannually, if the worst performing asset closes at or above its 60% coupon barrier on the related valuation date.
The securities may be called at par on any semiannual determination date.
The payout at maturity will be par if the worst performing asset ends at or above its 60% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing asset 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 assets: | S&P 500 index and SPDR S&P Biotech ETF
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| Amount: | $1,985,000
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| Maturity: | Jan. 23, 2026
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| Coupon: | 11.75% per year, paid semiannually if the worst performing asset closes at or above its 60% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above final barrier, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call option: | At par on any semiannual determination date
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| Initial levels: | 3,972.61 for S&P 500 index, $86.99 for SPDR S&P Biotech ETF
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| Coupon barriers: | 2,383.566 for S&P 500 index, $52.194 for SPDR S&P Biotech ETF, 60% of initial levels
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| Final barriers: | 2,383.566 for S&P 500 index, $52.194 for SPDR S&P Biotech ETF, 60% of initial levels
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| Pricing date: | Jan. 20
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| Settlement date: | Jan. 25
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17331C5Y9
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