Published on 10/6/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $500,000 callable contingent coupon equity notes on stocks, ETF
By Kiku Steinfeld
Chicago, Oct. 6 – Citigroup Global Markets Holdings Inc. priced $500,000 of callable contingent coupon equity-linked securities due Feb. 21, 2025 linked to the worst performing of Apple Inc., Meta Platforms, Inc. and SPDR S&P 500 ETF, 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 13.85% if each asset closes at or above the coupon barrier price, 65% of the initial price, on the valuation date for that month.
The notes will be callable at par on any monthly call valuation date after one year.
If the notes are not called and each asset finishes at or above final barrier price, 65% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be exposed to the downside of the worst performer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying assets: | Apple Inc., Meta Platforms, Inc. and SPDR S&P 500 ETF
|
| Amount: | $500,000
|
| Maturity: | Feb. 21, 2025
|
| Coupon: | 13.85% annualized rate, payable monthly if each asset closes at or above coupon barrier price on valuation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each asset closes at or above final barrier; otherwise, investors will be exposed to the downside of the worst performer
|
| Call option: | Callable at par plus coupon on any monthly call valuation date after one year
|
| Initial levels: | $172.79 for Apple, $221 for Meta, $446.10 for ETF
|
| Coupon barrier levels: | $112.314 for Apple, $143.650 for Meta, $289.965 for ETF, 65% of initial levels
|
| Final barrier levels: | $112.314 for Apple, $143.650 for Meta, $289.965 for ETF, 65% of initial levels
|
| Pricing date: | Feb. 15
|
| Settlement date: | Feb. 18
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.75%
|
| Cusip: | 17330AB84
|
|
|
© 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.
