Published on 5/18/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $835,000 15.25% callable contingent coupon equity notes on indexes, ETF
Chicago, May 18 – Citigroup Global Markets Holdings Inc. priced $835,000 of callable contingent coupon equity linked securities due Dec. 29, 2023 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15.25% paid monthly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called at par starting Dec. 27, 2022 and on any subsequent monthly review date.
At maturity the payout will be par if all of the assets never close below the 65% knock-in level during the life of the notes or the worst performing asset ends above its initial level. Otherwise, investors will be fully exposed to the decline of the worst performing asset.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity linked securities
|
| Underlying assets: | Nasdaq-100 index, Russell 2000 index and SPDR S&P 500 ETF Trust
|
| Amount: | $835,000
|
| Maturity: | Dec. 29, 2023
|
| Coupon: | 15.25% annual rate, paid monthly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date
|
| Price: | Par
|
| Payout at maturity: | Par if all of the assets never close below the knock-in level during the life of the notes or the worst performing asset ends above its initial level, otherwise investors will be fully exposed to the decline in the worst performing asset
|
| Call: | At par starting Dec. 27, 2022 and on any subsequent monthly review date
|
| Initial levels: | 12,105.85 for Nasdaq, 1,765.737 for Russell, $390.08 for ETF
|
| Coupon barriers: | 8,474.095 for Nasdaq, 1,236.016 for Russell, $273.056 for ETF, 70% of initial levels
|
| Knock-in levels: | 7,868.803 for Nasdaq, 1,147.729 for Russell, $253.552 for ETF, 65% of initial levels
|
| Pricing date: | June 24, 2022
|
| Settlement date: | June 29, 2022
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.725%
|
| Cusip: | 17330PGZ6
|
|
|
© 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.
