Published on 2/9/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $520,000 contingent coupon autocallables on ETF, indexes
Chicago, Feb. 9 – Citigroup Global Markets Holdings Inc. priced $520,000 of autocallable contingent coupon equity-linked securities due April 21, 2026 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 4.75% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that period.
The notes will be called at par if each underlying asset closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless any underlying asset finishes below its 60% final barrier level, in which case investors will be fully exposed to the decline in the worst performing asset.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying assets: | Nasdaq-100 index, Russell 2000 index and iShares MSCI Emerging Markets ETF
|
| Amount: | $520,000
|
| Maturity: | April 21, 2026
|
| Coupon: | 4.75% annualized, payable each quarter that each asset closes at or above coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlying asset finishes below its final barrier level, in which case full exposure to the decline in the worst performing asset
|
| Call: | At par if each asset closes at or above initial level on any quarterly observation date after one year
|
| Initial levels: | 14,041.91 for Nasdaq, 2,262.670 for Russell, $54.35 for ETF
|
| Coupon barrier levels: | 9,829.337 for Nasdaq, 1,583.869 for Russell, $38.045 for ETF; 70% of initial levels
|
| Final barrier levels: | 8,425.146 for Nasdaq, 1,357.602 for Russell, $32.61 for ETF; 60% of initial levels
|
| Pricing date: | April 16
|
| Settlement date: | April 21
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.75%
|
| Cusip: | 17329FS21
|
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