Published on 3/16/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.51 million 10.25% contingent income callable notes on indexes
Chicago, March 16 – Citigroup Global Markets Holdings Inc. priced $2.51 million of contingent income callable securities due March 13, 2025 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.25%, paid quarterly, if each underlying index closes at or above its 65% coupon barrier on every day during the the related quarterly observation period.
The securities may be called at par on any quarterly potential redemption date.
If the worst performing index gains or ends above its 65% downside threshold the payout at maturity will be par plus any contingent coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley is a selected dealer.
Issuer: | Citigroup Global Markets Holdings Inc.
|
Guarantor: | Citigroup Inc.
|
Issue: | Contingent income callable securities
|
Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
|
Amount: | $2,506,000
|
Maturity: | March 13, 2025
|
Coupon: | 10.25% annual rate, paid quarterly, if each underlying index closes at or above its coupon barrier on every day during the related quarterly observation period
|
Price: | Par
|
Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
|
Call: | Par on any quarterly potential redemption date
|
Initial levels: | 11,830.28 for Nasdaq, 1,772.702 for Russell, 3,861.59 for S&P
|
Coupon barriers: | 7,689.682 for Nasdaq, 1,152.256 for Russell, 2,510.034 for S&P; 65% of initial levels
|
Downside thresholds: | 7,689.682 for Nasdaq, 1,152.256 for Russell, 2,510.034 for S&P; 65% of initial levels
|
Pricing date: | March 10
|
Settlement date: | March 15
|
Agent: | Citigroup Global Markets Inc.
|
Selected dealer: | Morgan Stanley
|
Fees: | 2%
|
Cusip: | 17331CZE0
|
|
© 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.