Published on 8/15/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $631,000 7% callable contingent coupon notes on indexes
Chicago, Aug. 15 – Citigroup Global Markets Holdings Inc. priced $631,000 of callable contingent coupon equity linked securities due June 26, 2023 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7% paid quarterly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called starting June 21, 2022 at par and on any subsequent quarterly review date at the issuer’s option.
The payout at maturity will be par if the worst performing index ends at or above its 70% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing index declines.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $631,000
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Maturity: | June 26, 2023
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Coupon: | 7% annual rate, paid quarterly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above final barrier par; 1% loss for every 1% that worst performing index declines if it ends below final barrier
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Call: | Starting June 21, 2022 at par and on any subsequent quarterly review date at option of issuer
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Initial levels: | 15,986.28 for Nasdaq, 2,202.947 for Russell, 4,649.23 for S&P
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Coupon barrier levels: | 11,190.396 for Nasdaq, 1,542.063 for Russell, 3,254.461 for S&P, 70% of initial levels
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Final barrier levels: | 11,190.396 for Nasdaq, 1,542.063 for Russell, 3,254.461 for S&P, 70% of initial levels
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Pricing date: | Dec. 21, 2021
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Settlement date: | Dec. 27, 2021
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.875%
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Cusip: | 17329U7J4
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