Published on 3/23/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.62 million callable contingent coupon equity notes on Russell, Nasdaq
By Kiku Steinfeld
Chicago, March 23 – Citigroup Global Markets Holdings Inc. priced $1.62 million of callable contingent coupon equity-linked securities due Sept. 24, 2026 linked to the worst performing of the Russell 2000 index 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 pay a contingent monthly coupon at an annualized rate of 5% if each index closes at or above its coupon buffer level, 70% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any quarterly call valuation date after one year.
If the notes are not redeemed early, the payout will be par if each index finishes at or above its 85% buffer level. Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 15%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying indexes: | Russell 2000 index, Nasdaq-100 index
|
| Amount: | $1.62 million
|
| Maturity: | Sept. 24, 2026
|
| Contingent coupon: | 5% per year, payable monthly if each index closes at or above coupon buffer on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par if each index finishes at or above its 85% buffer level; otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 15%
|
| Call option: | In whole at par plus any coupon due on any quarterly call valuation date after one year
|
| Initial levels: | 15,012.19 for Nasdaq, 2,182.202 for Russell
|
| Coupon buffer levels: | 12,760.362 for Nasdaq, 1,854.872 for Russell; 85% of initial levels
|
| Buffer levels: | 12,760.362 for Nasdaq, 1,854.872 for Russell; 85% of initial levels
|
| Pricing date: | Sept. 20
|
| Settlement date: | Sept. 23
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.65%
|
| Cusip: | 17329QWS5
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
