Published on 12/1/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $250,000 8.35% contingent coupon equity-linked securities linked to S&P 500
Chicago, Dec. 1 – Citigroup Global Markets Holdings Inc. priced $250,000 of contingent coupon equity-linked securities due Oct. 30, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.35% paid quarterly if the index closes at or above its 75% coupon barrier on the related valuation date.
The payout at maturity will be par if the index ends at or above its 85% final buffer. Otherwise, investors will lose 1% for every 1% that the index declines beyond the buffer.
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: | Contingent coupon equity-linked securities
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Underlying index: | S&P 500 index
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Amount: | $250,000
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Maturity: | Oct. 30, 2023
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Coupon: | 8.35% annual rate, paid quarterly if the index closes at or above its 75% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | If index finishes at or above final buffer par; 1% loss for every 1% that index declines beyond 15% buffer
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Call: | Non-callable
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Initial level: | 3,752.75
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Coupon barrier: | 2,814.563, 75% of initial level
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Final buffer: | 3,189.838, 85% of initial level
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Strike date: | Oct. 21, 2022
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Pricing date: | Oct. 25, 2022
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Settlement date: | Oct. 28, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.25%
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Cusip: | 17330YD98
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