Published on 3/17/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $616,000 15% callable equity linked securities linked to indexes
By Kiku Steinfeld
Chicago, March 17 – Citigroup Global Markets Holdings Inc. priced $616,000 of 15% callable equity linked securities due Dec. 5, 2023 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.
Interest will be paid monthly.
The securities may be called starting June 5, 2023 at par and on any subsequent monthly review date.
If the worst performing index gains or declines but ends at or above its 70% knock-in level, the payout at maturity will be par plus the coupon.
If the notes have not been called, the payout at maturity will be par unless any underlier closes below its 70% knock-in level during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
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 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: | $616,000
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| Maturity: | Dec. 5, 2023
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| Coupon: | 15% per year, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any underlier closes below its knock-in level during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
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| Call: | Starting June 5, 2023 at par and on any subsequent monthly review date
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| Initial levels: | 12,030.06 for Nasdaq, 1,886.577 for Russell, 4,080.11 for S&P
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| Knock-in levels: | 8,421.042 for Nasdaq, 1,320.604 for Russell, 2,856.077 for S&P, 70% of initial level
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| Pricing date: | Nov. 30, 2022
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| Settlement date: | Dec. 5, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17330YCV0
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