Published on 2/9/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $6.62 million contingent income autocalls on S&P, Russell, Nasdaq
Chicago, Feb. 9 – Citigroup Global Markets Holdings Inc. priced $6.62 million of contingent income autocallable securities due April 20, 2023 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at the rate of 7% per year if each index closes at or above its coupon barrier level, 75% of its initial level, on the corresponding determination date.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless any index finishes below its downside threshold level, 75% of its initial level, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is a selected dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
|
| Amount: | $6,621,000
|
| Maturity: | April 20, 2023
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| Coupon: | 7% per year, payable quarterly if each index closes at or above coupon barrier level on the corresponding determination date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below downside threshold level, in which case 1% loss for every 1% that least-performing index declines from initial level
|
| Call: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly determination date
|
| Initial levels: | 4,185.47 for S&P, 14,041.91 for Nasdaq, 2,262.670 for Russell
|
| Coupon barriers: | 3,139.103 for S&P, 10,531.433 for Nasdaq, 1,697.003 for Russell; 75% of initial levels
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| Downside thresholds: | 3,139.103 for S&P, 10,531.433 for Nasdaq, 1,697.003 for Russell; 75% of initial levels
|
| Pricing date: | April 16
|
| Settlement date: | April 21
|
| Underwriter: | Citigroup Global Markets Inc. and Morgan Stanley Wealth Management as selected dealer
|
| Fees: | 2%
|
| Cusip: | 17329F6A7
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