Published on 7/8/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $600,000 callable contingent coupon equity notes on S&P, Russell, Nasdaq
Kiku Steinfeld
Chicago, July 8 – Citigroup Global Markets Holdings Inc. priced $600,000 of callable contingent coupon equity-linked securities due Sept. 28, 2023 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B8 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 9% 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 call valuation date starting after six months.
If the notes are not redeemed early, the payout will be par unless any index finishes below its 70% of its initial level, in which case investors will lose 1% for every 1% that the least performing index declines.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, S&P 500 index
|
| Amount: | $600,000
|
| Maturity: | Sept. 28, 2023
|
| Contingent coupon: | 9% per year, payable monthly if each index closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its final barrier level, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level
|
| Call option: | In whole at par plus any coupon due on any monthly call valuation date starting after six months
|
| Initial levels: | 4,725.79 for S&P, 16,308.21 for Nasdaq, 2,241.58 for Russell
|
| Coupon barrier levels: | 3,308.053 for S&P, 11,415.747 for Nasdaq, 1,569.103 for Russell; 70% of initial levels
|
| Final barrier levels: | 3,308.053 for S&P, 11,415.747 for Nasdaq, 1,569.103 for Russell; 70% of initial levels
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.4%
|
| Cusip: | 17329UMJ7
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
