Published on 8/22/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $5.42 million 8.6% equity-linked securities on Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., Aug. 22 – Citigroup Global Markets Holdings Inc. priced $5.42 million of equity-linked securities due Jan. 22, 2024 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 8.6% 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.
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| Guarantor: | Citigroup Inc.
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| Issue: | Equity-linked securities
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index
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| Amount: | $5.42 million
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| Maturity: | Jan. 22, 2024
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| Coupon: | 8.6% per year, payable monthly
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above threshold, par; otherwise, lose 1.25% for every 1% decline of the worst performer beyond 20%
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| Initial levels: | 2,020.529 for Russell, 13,635.21 for Nasdaq
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| Threshold levels: | 1,616.423 for Russell, 10,908.168 for Nasdaq; 80% of initial levels
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| Strike date: | Aug. 16
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| Pricing date: | Aug. 17
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| Settlement date: | Aug. 22
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | None
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| Cusip: | 17330RAS4
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