Published on 10/5/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $8 million contingent income callable securities on three indexes
New York, Oct. 5 – Citigroup Global Markets Holdings Inc. priced $8 million of contingent income callable securities due April 2, 2025 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17.2%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on every trading day during the observation period.
The securities may be called at par on any quarterly valuation date after one year.
If the worst performing index finishes at or above its 75% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing index declines from initial level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Contingent income callable securities
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $8 million
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Maturity: | April 2, 2025
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Coupon: | 17.2%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on every trading day during the observation period
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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Call option: | At par on any quarterly valuation date after one year
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Initial levels: | 1,715.243 for Russell, 3,719.04 for S&P, 11,493.83 for Nasdaq
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Downside thresholds: | 1,286.432 for Russell, 2,789.28 for S&P, 8,620.373 for Nasdaq, 75% of initial level
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Coupon barriers: | 1,286.432 for Russell, 2,789.28 for S&P, 8,620.373 for Nasdaq, 75% of initial level
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Pricing date: | Sept. 28
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Settlement date: | Oct. 3
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.75% including a structuring fee of 0.25%
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Cusip: | 17330RU60
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