Published on 9/27/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.4 million trigger callable contingent yield notes on three indexes
Chicago, Sept. 27 – Citigroup Global Markets Holdings Inc. priced $3.4 million of trigger callable contingent yield notes due May 8, 2025 linked to the least performing of the Euro Stoxx 50 index, 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.
The notes will pay a contingent quarterly coupon at an annualized rate of 9% if each index closes at or above its coupon barrier, 65% of its initial value, on every trading day during the observation period.
The notes are redeemable in whole, at the issuer’s option, at par plus any coupon otherwise due on any quarterly observation date.
The payout at maturity will be par plus any final coupon otherwise due if each index finishes at or above its coupon barrier.
If the worst performer finishes below its coupon barrier but at or above the 60% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial value.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying indexes: | Euro Stoxx 50 index, S&P 500 index, Russell 2000 index
|
| Amount: | $3,400,000
|
| Maturity: | May 8, 2025
|
| Coupon: | 9% per year, payable quarterly if each index closes at or above coupon barrier on every trading day during the observation period
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus any coupon otherwise due if each index finishes at or above coupon barrier; if worst performer finishes below its coupon barrier but at or above its downside threshold, par; otherwise, 1% loss for each 1% decline of the worst performer from initial value
|
| Call: | In whole at par plus any coupon otherwise due on any quarterly observation date
|
| Initial values: | 4,500.53 for S&P, 4,086.58 for Stoxx, 2,002.359 for Russell
|
| Coupon barriers: | 2,925.34 for S&P, 2,656.28 for Stoxx, 1,301.533 for Russell; 65% of initial values
|
| Downside thresholds: | 2,700.32 for S&P, 2,451.95 for Stoxx, 1,201.415 for Russell; 60% of initial values
|
| Pricing date: | Feb. 4
|
| Settlement date: | Feb. 9
|
| Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
|
| Fees: | 1%
|
| Cusip: | 17330L595
|
|
|
© 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.
