Published on 6/17/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $877,000 callable contingent coupon equity notes on Nasdaq, Russell, Dow
Chicago, June 17 – Citigroup Global Markets Holdings Inc. priced $877,000 of callable contingent coupon equity-linked securities due Dec. 12, 2024 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, 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 6% if each index closes at or above its coupon barrier level, 70% 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 potential redemption date after six months.
If the notes are not redeemed early and each index finishes at or above its 70% final barrier, the payout at maturity will be par plus the final coupon.
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.
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| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average, Nasdaq-100 index
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| Amount: | $877,000
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| Maturity: | Dec. 12, 2024
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| Contingent coupon: | 6% per year, payable monthly if each index closes at or above coupon barrier on the valuation date for that period
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| Price: | Par
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| Payout at maturity: | If all indexes finish at or above final barrier, par plus final coupon; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level
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| Call option: | In whole at par plus any coupon due on any monthly potential redemption date after six months
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| Initial levels: | 16,394.34 for Nasdaq, 35,754.75 for Dow, 2,271.706 for Russell
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| Coupon barrier levels: | 11,476.038 for Nasdaq, 25,028.325 for Dow, 1,590.194 for Russell; 70% of initial levels
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| Barrier levels: | 11,476.038 for Nasdaq, 25,028.325 for Dow, 1,590.194 for Russell; 70% of initial levels
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| Pricing date: | Dec. 8, 2021
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| Settlement date: | Dec. 13, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.95%
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| Cusip: | 17329USV4
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