Published on 5/1/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $250,000 7.25% callable contingent coupon notes on indexes
Chicago, May 1 – Citigroup Global Markets Holdings Inc. priced $250,000 of callable contingent coupon equity linked securities due June 13, 2025 linked to the worst performing of the Dow Jones industrial average, Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.25% paid quarterly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date.
The securities may be called at par starting Dec. 12, 2022 and on any subsequent quarterly review date.
The payout at maturity will be par if the worst performing index gains or declines by no more than its 20% buffer. Otherwise, investors will lose 1% for every 1% that the worst performing 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: | Callable contingent coupon equity linked securities
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and S&P 500 index
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| Amount: | $250,000
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| Maturity: | June 13, 2025
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| Coupon: | 7.25% annual rate, paid quarterly if the worst performing index closes at or above its 80% 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 its final buffer par; 1% loss for every 1% that worst performing index declines beyond the buffer
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| Call: | At par starting Dec. 12, 2022 and on any subsequent quarterly review date
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| Initial levels: | 31,392.79 for Dow, 11,832.82 for Nasdaq, 3,900.86 for S&P
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| Coupon barriers: | 25,114.232 for Dow, 9,466.256 for Nasdaq, 3,120.688 for S&P, 80% of initial levels
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| Final buffers: | 25,114.232 for Dow, 9,466.256 for Nasdaq, 3,120.688 for S&P, 80% of initial levels
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| Buffer: | 20%
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| Pricing date: | June 10, 2022
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| Settlement date: | June 15, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.25%
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| Cusip: | 17330P7F0
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