Published on 8/3/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $8.06 million 8.9% equity-linked securities on Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., Aug. 3 – Citigroup Global Markets Holdings Inc. priced $8.06 million of equity-linked securities due Nov. 2, 2023 tied to the performance 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 carry a coupon of 8.9% per year, payable monthly.
If each index finishes at or above 80% of its initial level, the payout at maturity will be par.
Otherwise, investors will lose 1.25% for every 1% decline of the worst performer beyond 20%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Equity-linked securities
|
| Underlying indexes: | Russell 2000 index, Nasdaq-100 index
|
| Amount: | $8,055,000
|
| Maturity: | Nov. 2, 2023
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| Coupon: | 8.9% per year, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above buffer, par; otherwise, lose 1.25% for every 1% decline of worst performer below buffer
|
| Initial levels: | 1,848.339 for Russell, 12,601.47 for Nasdaq
|
| Buffer levels: | 1,478.671 for Russell, 10,081.176 for Nasdaq; 80% of initial levels
|
| Strike date: | July 27
|
| Pricing date: | July 28
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| Settlement date: | Aug. 2
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17330PZH5
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