Published on 5/20/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $508,000 callable contingent coupon equity notes on S&P, Nasdaq, Russell
Chicago, May 20 – Citigroup Global Markets Holdings Inc. priced $508,000 of callable contingent coupon equity-linked securities due Oct. 30, 2026 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100-index, 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 8.26% per year if each index closes at or above its coupon barrier level, 75% of its initial level, on the corresponding observation date.
The notes will be callable in whole at par plus any coupon due on any monthly potential redemption date after three months.
If the notes are not redeemed early, the payout will be par plus any final coupon if each index finishes at or above 70% of its initial level. 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, Nasdaq-100 index, S&P 500 index
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| Amount: | $508,000
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| Maturity: | Oct. 30, 2026
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| Contingent coupon: | 8.26% per year, payable monthly if each index closes at or above its coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | If all indexes finish at or above final barrier, par; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level
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| Call option: | Par on any monthly potential redemption date after three months
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| Initial levels: | 15,598.39 for Nasdaq, 4,551.68 for S&P, 2,252.491 for Russell
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| Coupon barrier levels: | 11,698.793 for Nasdaq, 3,413.760 for S&P, 1,689.368 for Russell; 75% of initial levels
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| Barrier levels: | 10,918.873 for Nasdaq, 3,186.176 for S&P, 1,576.744 for Russell; 70% of initial levels
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| Pricing date: | Oct. 27, 2021
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| Settlement date: | Nov. 1, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17329UKR1
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