Published on 5/24/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $815,000 8% callable contingent coupon notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, May 24 – Citigroup Global Markets Holdings Inc. priced $815,000 of callable contingent coupon equity linked securities due July 23, 2024 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8% paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called starting April 18, 2023 at par and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing index ends at or above its 50% 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $815,000
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| Maturity: | July 23, 2024
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| Coupon: | 8% paid monthly if the worst performing index closes at or above its 70% 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 April 18, 2023 at par and on any subsequent monthly review date
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| Initial levels: | 11,410.29 for Nasdaq, 1,854.365 for Russell, 3,928.86 for S&P
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| Coupon barriers: | 7,987.203 for Nasdaq, 1,298.056 for Russell, 2,750.202 for S&P, 70% of initial levels
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| Final barriers: | 5,705.145 for Nasdaq, 927.183 for Russell, 1,964.430 for S&P, 50% of initial levels
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| Pricing date: | Jan. 18, 2023
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| Settlement date: | Jan. 23, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.65%
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| Cusip: | 17331CA23
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