Published on 9/22/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $486,000 autocallable equity-linked securities on S&P, Russell
Chicago, Sept. 22 – Citigroup Global Markets Holdings Inc. priced $486,000 9.3% autocallable equity-linked securities due May 3, 2023 tied to the worst performing of the S&P 500 index and the Russell 2000 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 will be automatically called at par plus the coupon if each index closes at or above its initial level on July 28, 2022, Oct. 28, 2022 or Jan. 30, 2023.
If both indexes finish at or above their initial levels or neither index closes below 75% of its initial level on any day during the life of the notes, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the lesser-performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable equity-linked securities
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $486,000
|
| Maturity: | May 3, 2023
|
| Coupon: | 9.3%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If both indexes finish at or above initial levels or no index closes below 75% of initial level during life of notes, par; otherwise, investors will lose 1% for every 1% decline of lesser-performing index
|
| Call: | Automatically at par plus coupon if each index closes at or above initial level on July 28, 2022, Oct. 28, 2022 or Jan. 30, 2023
|
| Initial index levels: | 4,431.85 for S&P, 1,968.508 for Russell
|
| Knock-in levels: | 3,323.888 for S&P, 1,476.381 for Russell; 75% of initial levels
|
| Pricing date: | Jan. 28
|
| Settlement date: | Feb. 2
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.75%
|
| Cusip: | 17330A5G3
|
|
|
© 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.
