Published on 8/29/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $766,000 9.85% callable contingent coupon equity on indexes
Chicago, Aug. 29 – Citigroup Global Markets Holdings Inc. priced $766,000 of callable contingent coupon equity linked securities due May 23, 2023 linked to the worst performing of the Dow Jones industrial average and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.85% paid quarterly if the worst performing index closes at or above its 68% coupon barrier on the related valuation date.
The securities may be called at par starting Nov. 18, 2022 or on the subsequent quarterly review date.
The payout at maturity will be par if the worst performing index ends at or above its 68% 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: | Dow Jones industrial average and Nasdaq-100 index
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| Amount: | $766,000
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| Maturity: | May 23, 2023
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| Coupon: | 9.85% annual rate, paid quarterly if the worst performing index closes at or above its 68% 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: | At par starting Nov. 18, 2022 and on subsequent quarterly review date
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| Initial levels: | 33,999.04 for Dow, 13,505.99 for Nasdaq index
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| Coupon barriers: | 23,119.347 for Dow, 9,184.073 for Nasdaq index, 68% of initial levels
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| Final barriers: | 23,119.347 for Dow, 9,184.073 for Nasdaq index, 68% of initial levels
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| Pricing date: | Aug. 18, 2022
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| Settlement date: | Aug. 23, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17330R3L7
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