Published on 10/26/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $2.06 million callable contingent coupon equity linked securities on ETFs
New York, Oct. 26 – Citigroup Global Markets Holdings Inc. priced $2.06 million of callable contingent coupon equity linked securities due Oct. 23, 2025 linked to the performance of the Financial Select Sector SPDR Fund, the Health Care Select Sector SPDR Fund and the Industrial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.7% per year, paid quarterly, if the worst performing ETF closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called at par on any quarterly review date starting Oct. 20, 2023.
The payout at maturity will be par if the worst performing ETF ends at or above its 70% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing ETF declines.
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 ETFs: | Financial Select Sector SPDR Fund, Health Care Select Sector SPDR Fund and Industrial Select Sector SPDR Fund
|
| Amount: | $2,061,000
|
| Maturity: | Oct. 23, 2025
|
| Coupon: | 14.7% per year, paid quarterly if the worst performing ETF closes at or above its 70% coupon barrier on the related valuation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing ETF finishes at or above final barrier, par; otherwise, 1% loss for every 1% that worst performing ETF declines from initial level
|
| Call option: | At par on any quarterly review date starting Oct. 20, 2023
|
| Initial levels: | $32.30 for Financial Select Sector SPDR Fund, $126.59 for Health Care Select Sector SPDR Fund, $88.68 for Industrial Select Sector SPDR Fund
|
| Coupon barriers: | $22.610 for Financial Select Sector SPDR Fund, $88.613 for Health Care Select Sector SPDR Fund, $62.076 for Industrial Select Sector SPDR Fund, 70% of initial levels
|
| Final barriers: | $22.610 for Financial Select Sector SPDR Fund, $88.613 for Health Care Select Sector SPDR Fund, $62.076 for Industrial Select Sector SPDR Fund, 70% of initial levels
|
| Strike date: | Oct. 18
|
| Pricing date: | Oct. 20
|
| Settlement date: | Oct. 25
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.6%
|
|
|
| Cusip: | 17330Y4B3
|
|
|
|
|
© 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.
