Published on 4/13/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.38 million 17% callable equity linked securities notes on stocks
New York, April 13 – Citigroup Global Markets Holdings Inc. priced $1.38 million of 17% callable equity linked securities due April 11, 2025 linked to the common stocks of Charles Schwab Corp., PNC Financial Services Group, Inc. and Truist Financial Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly. If the worst performing stock gains or declines but ends above its 50% downside threshold the payout at maturity will be par plus the coupon. Investors will be exposed to the decline of the worst performing stock, payable in shares of that stock.
The securities may be called at par on any monthly determination date after six months.
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 stocks: | Charles Schwab Corp., PNC Financial Services Group, Inc. and Truist Financial Corp.
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| Amount: | $1,375,000
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| Maturity: | April 11, 2025
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| Coupon: | 17%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par if worst performing stock finishes at or above its downside threshold level; otherwise, exposure to decline of worst performing stock, payable in shares of that stock
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| Call: | At par on any monthly determination date after six months
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| Initial levels: | $48.87 for Charles Schwab Corp., $121.43 for PNC Financial Services Group, Inc., $32.02 for Truist Financial Corp.
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| Downside thresholds: | $24.435 for Charles Schwab Corp., $60.715 for PNC Financial Services Group, Inc., $16.01 for Truist Financial Corp., 50% of initial level
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| Pricing date: | April 5
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| Settlement date: | April 11
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.25%
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| Cusip: | 17331AGD7
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