Published on 1/23/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $335,000 8.05% callable contingent coupon notes on indexes
Chicago, Jan. 23 – Citigroup Global Markets Holdings Inc. priced $335,000 of callable contingent coupon equity linked securities due April 25, 2024 linked to the worst performing of the Euro Stoxx 50 index, MSCI Emerging Markets index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.05% paid quarterly if the worst performing index closes at or above its 60% coupon barrier on the related valuation date.
The securities may be called at par starting July 22, 2022 and on any subsequent quarterly review date.
The payout at maturity will be par if the worst performing index ends at or above its 60% 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: | Euro Stoxx 50 index, MSCI Emerging Markets index and Russell 2000 index
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Amount: | $335,000
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Maturity: | April 25, 2024
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Coupon: | 8.05% annual rate, paid quarterly if the worst performing index closes at or above its 60% 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: | At par starting July 22, 2022 and on any subsequent quarterly review date at option of issuer
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Initial levels: | 3,840.01 for Stoxx, 1,075.60 for EM, 1,940.665 for Russell
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Coupon barriers: | 2,304.006 for Stoxx, 645.360 for EM, 1,164.399 for Russell, 60% of initial levels
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Final barriers: | 2,304.006 for Stoxx, 645.360 for EM, 1,164.399 for Russell, 60% of initial levels
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Pricing date: | April 22, 2022
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Settlement date: | April 27, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.75%
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Cusip: | 17330F3D1
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