Published on 10/16/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.45 million 11% callable contingent coupon notes on index, ETF
Chicago, Oct. 16 – Citigroup Global Markets Holdings Inc. priced $1.45 million of callable contingent coupon equity-linked securities due Oct. 10, 2024 linked to the Russell 2000 index and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11% paid quarterly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called at par starting April 10, 2023 and on any subsequent quarterly review date.
The payout at maturity will be par if the worst performing asset ends at or above its 65% 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.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying assets: | Russell 2000 index and SPDR S&P 500 ETF Trust
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| Amount: | $1,451,000
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| Maturity: | Oct. 10, 2024
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| Coupon: | 11% annual rate, paid quarterly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing asset finishes at or above final barrier par; 1% loss for every 1% that worst performing asset declines if it ends below final barrier
|
| Call: | At par starting April 10, 2023 and on any subsequent quarterly review date
|
| Initial levels: | 1,702.150 for Russell, $362.79 for Trust
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| Coupon barriers: | 1,191.505 for Russell, $253.953 for Trust, 70% of initial levels
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| Final barriers: | 1,106.398 for Russell, $235.814 for Trust, 65% of initial levels
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| Pricing date: | Oct. 7, 2022
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| Settlement date: | Oct. 13, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
|
| Cusip: | 17330RY33
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