Published on 9/27/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $784,000 7.5% callable contingent coupon notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, Sept. 27 – Citigroup Global Markets Holdings Inc. priced $784,000 of callable contingent coupon equity linked securities due March 19, 2026 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.5% paid monthly if the worst performing index closes at or above its 60% coupon barrier on the related valuation date.
The securities may be called starting March 15, 2024 on any monthly review date.
The payout at maturity will be par if the worst performing index ends at or above its 60% 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $784,000
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Maturity: | March 19, 2026
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Coupon: | 7.5% paid monthly if the worst performing index closes at or above its 60% 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: | Starting March 15, 2024 on any monthly review date
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Initial levels: | 12,251.32 for Nasdaq index, 1,745.945 for Russell, 3,891.93 for S&P
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Coupon barriers: | 7,350.792 for Nasdaq index, 1,047.567 for Russell, 2,335.158 for S&P, 60% of initial levels
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Final barriers: | 7,350.792 for Nasdaq index, 1,047.567 for Russell, 2,335.158 for S&P, 60% of initial levels
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Pricing date: | March 15, 2023
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Settlement date: | March 20, 2023
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2.95%
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Cusip: | 17331CXU6
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