Published on 5/27/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $6.7 million callable contingent coupon equity notes on S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, May 27 – Citigroup Global Markets Holdings Inc. priced $6.7 million of callable contingent coupon equity-linked securities due May 23, 2025 linked to the worst performing of the S&P 500 index and the Dow Jones industrial average, 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 10% if each index closes at or above its coupon barrier 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 monthly call valuation date after three months.
If the notes are not called, investors will receive par unless either index finishes below its 60% barrier level, in which case 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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying indexes: | Dow Jones industrial average, S&P 500 index
|
| Amount: | $6,697,000
|
| Maturity: | May 23, 2025
|
| Coupon: | 10% per year, payable monthly if each index closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its barrier level, in which case lose 1% for every 1% decline of the worst performer from initial level
|
| Call option: | In whole at par plus any coupon due on any monthly call valuation date after three months
|
| Initial levels: | 3,901.36 for S&P, 31,261.9 for Dow
|
| Coupon barrier levels: | 2,730.952 for S&P, 21,883.33 for Dow; 70% of initial levels
|
| Barrier levels: | 2,340.816 for S&P, 18,757.14 for Dow; 60% of initial levels
|
| Pricing date: | May 20
|
| Settlement date: | May 25
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.75%
|
| Cusip: | 17330FVL2
|
|
|
© 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.
