Published on 3/16/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $24.78 million autocallable equity-linked securities on Nasdaq, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, March 16 – Citigroup Global Markets Holdings Inc. priced $24.78 million autocallable equity-linked securities due March 16, 2023 tied 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.
Interest is payable monthly at an annual rate of 9.65%.
The notes will be automatically called at par plus coupon if each index finishes above their initial level on any monthly redemption date after six months.
If each index finishes at or above their downside threshold, 70% of initial level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable equity-linked securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $2,300,000
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| Maturity: | March 16, 2023
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| Coupon: | 9.65%, payable monthly
|
| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, investors will lose 1% for every 1% decline of the lesser-performing index from its initial level
|
| Call: | Automatically at par plus coupon if each index finishes above initial level on any monthly redemption date after six months
|
| Initial index levels: | 4,204.31 for S&P, 13,301.83 for Nasdaq, 1,979.668 for Russell
|
| Downside threshold: | 2,943.017 for S&P, 9,311.281 for Nasdaq, 1,385.768 for Russell; 70% of initial levels
|
| Pricing date: | March 11
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| Settlement date: | March 16
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.25%
|
| Cusip: | 17330AUT7
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