Published on 10/25/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $979,000 callable contingent coupon equity notes on S&P, Nasdaq, Russell
Chicago, Oct. 25 – Citigroup Global Markets Holdings Inc. priced $979,000 of callable contingent coupon equity-linked securities due Feb. 27, 2024 linked to the worst performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, 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 5.3% if each index closes at or above its coupon barrier level, 80% 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 six months.
If the notes are not redeemed early and each index finishes at or above 81.3% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond the 18.7% buffer.
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: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
|
Amount: | $979,000
|
Maturity: | Feb. 27, 2024
|
Contingent coupon: | 5.3% 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: | If all indexes finish at or above final buffer, par plus final coupon; otherwise, investors will lose 1% for every 1% decline of the worst performer beyond the 18.7% buffer
|
Call option: | In whole at par plus any coupon due on any monthly call valuation date after six months
|
Initial levels: | 1,980.173 for Russell, 4,304.76 for S&P, 13,870.53 for Nasdaq
|
Coupon barrier levels: | 1,584.138 for Russell, 3,443.808 for S&P, 11,096.424 for Nasdaq; 80% of initial levels
|
Barrier levels: | 1,609.881 for Russell, 3,499.77 for S&P, 11,276.741 for Nasdaq; 81.3% of initial levels
|
Pricing date: | Feb. 22
|
Settlement date: | Feb. 25
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | 2.7%
|
Cusip: | 17330ABN1
|
|
© 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.