Published on 8/22/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.08 million callable contingent coupon equity notes on Russell, EM ETF
By Kiku Steinfeld
Chicago, Aug. 22 – Citigroup Global Markets Holdings Inc. priced $1.08 million of callable contingent coupon equity-linked securities due Jan. 23, 2026 linked to the worst performing of iShares MSCI Emerging Markets ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annual rate of 7.75% if each asset closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that month.
The notes will be callable at par on any monthly valuation date after three months.
If the notes are not called and each asset finishes at or above final barrier price, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be exposed to the downside of the worst performer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying assets: | iShares MSCI Emerging Markets ETF and Russell 2000 index
|
| Amount: | $1,075,000
|
| Maturity: | Jan. 23, 2026
|
| Coupon: | 7.75% annualized rate, payable monthly if each asset closes at or above coupon barrier price on valuation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par if each asset closes at or above final barrier; otherwise, investors will be exposed to the downside of the worst performer
|
| Call option: | Callable at par plus coupon on any monthly valuation date after three months
|
| Initial levels: | $49.22 for iShares and 2,096.225 for Russell
|
| Coupon barrier levels: | $34.454 for iShares and 1,467.358 for Russell, 70% of initial levels
|
| Final barrier levels: | $29.532 for iShares and 1,257.735 for Russell, 60% of initial levels
|
| Pricing date: | Jan. 18, 2022
|
| Settlement date: | Jan. 21, 2022
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.95%
|
| Cusip: | 17329UMK4
|
|
|
|
|
© 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.
