Published on 2/24/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.49 million 10.25% callable contingent coupon notes on index, ETF
Chicago, Feb. 24 – Citigroup Global Markets Holdings Inc. priced $2.49 million of callable contingent coupon equity linked securities due Feb. 20, 2026 linked to the worst performing of the S&P 500 index and SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.25% if the worst performing asset closes at or above its 60% coupon barrier on the related semiannual valuation date.
The securities may be called at par starting Aug. 17, 2023 and on any subsequent semiannual determination 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: | S&P 500 index and SPDR S&P Biotech ETF
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Amount: | $2,485,000
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Maturity: | Feb. 20, 2026
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Coupon: | 10.25% annual rate, if the worst performing asset closes at or above its 60% coupon barrier on the related semiannual 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: | At par starting Aug. 17, 2023 and on any subsequent semiannual determination date
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Initial levels: | 4,079.09 for S&P 500 index, $86.80 for SPDR S&P Biotech ETF
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Coupon barriers: | 2,447.454 for S&P 500 index, $52.080 for SPDR S&P Biotech ETF, 60% of initial levels
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Final barriers: | 2,447.454 for S&P 500 index, $52.080 for SPDR S&P Biotech ETF, 60% of initial levels
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Pricing date: | Feb. 17
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Settlement date: | Feb. 23
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.5%
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Cusip: | 17331CCG0
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