Published on 5/24/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $350,000 contingent upside participation market-linked notes linked to S&P
Chicago, May 24 – Citigroup Global Markets Holdings Inc. priced $350,000 of 0% contingent upside participation market-linked notes due Jan. 2, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above its knock-out level, 153% of its initial value, on any day during the life of the notes the payout at maturity will be par plus 6%.
If the index never makes it over that 153% knock-out barrier, but finishes above its initial level, the payout will be par plus the index return.
Otherwise, investors will receive par.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Contingent upside participation market-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $350,000
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| Maturity: | Jan. 2, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | During the life of the notes, if index ever closes above 153% knock-out level, par plus 6%; if index has never closed above knock-out level, but finishes positive, par plus return; otherwise, par
|
| Initial level: | 3,818.83
|
| Knock-out level: | 5,842.81, 153% of initial level
|
| Knock-out return: | 6%
|
| Call: | Non-callable
|
| Pricing date: | June 29, 2022
|
| Settlement date: | July 5, 2022
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17330PAF6
|
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