Published on 3/10/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $5.75 million 6.55% equity-linked securities on S&P, Dow, Nasdaq
By William Gullotti
Buffalo, N.Y., March 10 – Citigroup Global Markets Holdings Inc. priced $5.75 million of equity-linked securities due March 7, 2025 tied to the performance of the S&P 500 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 6.55% per year, payable quarterly.
If each index finishes at or above 70% of its initial level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Equity-linked securities
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Underlying indexes: | S&P 500 index, Dow Jones industrial average, Nasdaq-100 index
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Amount: | $5,747,000
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Maturity: | March 7, 2025
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Coupon: | 6.55% per year, payable quarterly
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Price: | Par
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Payout at maturity: | If each index finishes at or above barrier, par; otherwise, full exposure to decline of worst performer from initial level
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Initial levels: | 4,363.49 for S&P, 33,794.66 for Dow, 14,035.21 for Nasdaq
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Barrier levels: | 3,054.443 for S&P, 23,656.262 for Dow, 9,824.647 for Nasdaq; 70% of initial levels
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Strike date: | March 3
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Pricing date: | March 4
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Settlement date: | March 9
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.4%
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Cusip: | 17330AP22
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