Published on 5/24/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $2.8 million autocallable contingent coupon notes on Nasdaq, S&P
By Wendy Van Sickle
Columbus, Ohio, May 24 – Citigroup Global Markets Holdings Inc. priced $2.8 million of autocallable contingent coupon equity-linked securities due June 23, 2023 linked to the worst performing of the S&P 500 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 will pay a contingent monthly coupon at an annual rate of 7.5% if each index closes at or above the coupon barrier level, 70% of the initial level, on the valuation date for that period.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly call valuation date after six months.
If the notes are not called and each index finishes at or above its final barrier level, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
|
Guarantor: | Citigroup Inc.
|
Issue: | Autocallable contingent coupon equity-linked securities
|
Underlying indexes: | Nasdaq-100 index, S&P 500 index
|
Amount: | $2,797,000
|
Maturity: | June 23, 2023
|
Coupon: | 7.5% annualized rate, payable monthly if each index closes at or above coupon barrier level on valuation date for that period
|
Price: | Par
|
Payout at maturity: | Par if each index closes at or above final barrier; otherwise, investors will lose 1% for every 1% decline of the worst performer
|
Call: | Automatically at par if each index closes at or above initial level on any quarterly call valuation date after six months
|
Initial levels: | 12,564.1 for Nasdaq, 4,088.85 for S&P
|
Coupon barrier levels: | 8,794.87 for Nasdaq, 2,862.195 for S&P 500; 70% of initial levels
|
Final barrier levels: | 8,794.87 for Nasdaq, 2,862.195 for S&P 500; 70% of initial levels
|
Pricing date: | May 17
|
Settlement date: | May 20
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | 2.15%
|
Cusip: | 17330FMT5
|
|
© 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.