Published on 2/27/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $971,000 8.75% callable contingent coupon notes on Dow, S&P
Chicago, Feb. 27 – Citigroup Global Markets Holdings Inc. priced $971,000 of callable contingent coupon equity linked securities due May 9, 2025 linked to the Dow Jones industrial average and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.75% paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called at par starting May 8, 2023 and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing index ends at or above its 70% 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 S&P 500 index
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Amount: | $971,000
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Maturity: | May 9, 2025
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Coupon: | 8.75% annual rate, paid monthly if the worst performing index 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 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 May 8, 2023 and on any subsequent monthly review date at issuer’s option
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Initial levels: | 32,899.37 for Dow, 4,123.34 for S&P
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Coupon barriers: | 23,029.559 for Dow, 2,886.338 for S&P, 70% of initial levels
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Final barriers: | 23,029.559 for Dow, 2,886.338 for S&P, 70% of initial levels
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Pricing date: | May 6, 2022
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Settlement date: | May 11, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.95%
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Cusip: | 17330FN56
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