Published on 3/21/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $7 million 7% trigger callable yield notes linked to Russell, S&P
By William Gullotti
Buffalo, N.Y., March 21 – Citigroup Global Markets Holdings Inc. priced $7 million of 7% trigger callable yield notes due March 20, 2025 linked to 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.
Interest is payable quarterly.
The notes are callable at par of $10 on any quarterly coupon payment date.
The payout at maturity will be par unless the lowest performing index finishes below its 50% downside threshold level, in which case investors will be fully exposed to the lowest performing index’s decline.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Trigger callable yield notes
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Underlying indexes: | Russell 2000 index, S&P 500 index
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Amount: | $7 million
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Maturity: | March 20, 2025
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Coupon: | 7%, payable quarterly
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Price: | Par of $10
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Payout at maturity: | If the lowest performing index finishes at or above downside threshold level, par; otherwise, full exposure to least performing index’s decline from its initial level
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Call option: | At par on any quarterly call date
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Initial levels: | 2,030.72 for Russell, 4,357.86 for S&P
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Downside threshold levels: | 1,015.36 for Russell, 2,178.93 for S&P; 50% of initial levels
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Pricing date: | March 16
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Settlement date: | March 21
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Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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Fees: | None
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Cusip: | 17330L579
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