Published on 10/26/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $940,000 callable contingent coupon equity notes on indexes, ETF
Chicago, Oct. 26 – Citigroup Global Markets Holdings Inc. priced $940,000 of callable contingent coupon equity-linked securities due Feb. 28, 2025 linked to the worst performing of the Nasdaq-100 index, the iShares MSCI EAFE 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 pay a contingent quarterly coupon at an annualized rate of 6.1% if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
After six months, the notes will be callable in whole at par plus any coupon due on any quarterly call valuation date after six months.
If the notes have not been called, the payout at maturity will be par plus the final coupon if all underliers finish at or above the 60% barrier level.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
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: | Russell 2000 index, Nasdaq-100 index, iShares MSCI EAFE ETF
|
| Amount: | $940,000
|
| Maturity: | Feb. 28, 2025
|
| Contingent coupon: | 6.1% per year, payable quarterly if each underlier closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If all underliers finish at or above barrier level, par plus the final coupon; otherwise, lose 1% for every 1% decline of the worst performer from its initial level
|
| Call option: | In whole at par plus any coupon due on any quarterly call valuation date after six months
|
| Initial levels: | $74.64 for ETF, 14,189.16 for Nasdaq, 2,040.929 for Russell
|
| Coupon barrier levels: | $52.248 for ETF, 9,932.412 for Nasdaq, 1,428.65 for Russell; 70% of initial levels
|
| Buffer levels: | $44.784 for ETF, 8,513.496 for Nasdaq, 1,224.557 for Russell; 60% of initial levels
|
| Pricing date: | Feb. 25
|
| Settlement date: | March 2
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.95%
|
| Cusip: | 17330ARK0
|
|
|
© 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.
