Published on 4/25/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $50,000 10.5% callable contingent coupon notes on indexes
Chicago, April 25 – Citigroup Global Markets Holdings Inc. priced $50,000 of callable contingent coupon equity linked securities due May 28, 2027 linked to the worst performing of the Dow Jones industrial average, Russell 2000 index and S&P 500 Dynamic Participation index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5% paid quarterly 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 25, 2023 and on any subsequent quarterly 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: | Dow Jones industrial average, Russell 2000 index and S&P 500 Dynamic Participation index
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Amount: | $50,000
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Maturity: | May 28, 2027
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Coupon: | 10.5% annual rate, paid quarterly 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 25, 2023 and on any subsequent quarterly review date
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Initial levels: | 32,120.28 for Dow, 1,799.164 for Russell, 628.94 for Dynamic Participation
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Coupon barriers: | 22,484.196 for Dow, 1,259.415 for Russell, 440.258 for Dynamic Participation index, 70% of initial levels
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Final barriers: | 19,272.168 for Dow, 1,079.498 for Russell, 377.364 for Dynamic Participation, 60% of initial levels
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Pricing date: | May 25, 2022
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Settlement date: | May 31, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.75%
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Cusip: | 17330FMA6
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