Published on 10/29/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $243,000 9.4% callable contingent coupon notes on index, ETF
By Kiku Steinfeld
Chicago, Oct. 30 – Citigroup Global Markets Holdings Inc. priced $243,000 of callable contingent coupon equity linked securities due April 6, 2026 linked to the Russell 2000 index and iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.4% paid monthly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called starting June 30, 2023 on a monthly review 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: | Russell 2000 index and iShares MSCI EAFE ETF
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| Amount: | $243,000
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| Maturity: | April 6, 2026
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| Coupon: | 9.4% paid monthly if the worst performing asset 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 asset finishes at or above final barrier par; 1% loss for every 1% that worst performing asset declines if it ends below final barrier
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| Call: | Starting June 30, 2023 on a monthly review date
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| Initial levels: | 1,802.484 for Russell, $71.52 for iShares MSCI EAFE ETF
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| Coupon barriers: | 1,261.739 for Russell, $50.064 for iShares MSCI EAFE ETF, 70% of initial levels
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| Final barriers: | 1,081.490 for Russell, $42.912 for iShares MSCI EAFE ETF, 60% of initial levels
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| Pricing date: | March 31, 2023
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| Settlement date: | April 5, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17331H3P9
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