Published on 7/22/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $930,000 10.15% callable contingent coupon notes on indexes, ETF
Chicago, July 24 – Citigroup Global Markets Holdings Inc. priced $930,000 of callable contingent coupon equity linked securities due July 23, 2025 linked to the worst performing of the Dow Jones industrial average, Russell 2000 index and iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.15% paid monthly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called starting Oct. 18 at par and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing asset ends at or above its 70% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing asset 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 assets: | Dow Jones industrial average, Russell 2000 index and iShares MSCI Emerging Markets ETF
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Amount: | $930,000
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Maturity: | July 23, 2025
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Coupon: | 10.15% annual rate, paid monthly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | If worst performing asset finishes at or above final barrier par; 1% loss for every 1% that worst performing asset declines if it ends below final barrier
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Call: | Starting Oct. 18 at par and on any subsequent monthly review date
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Initial levels: | 34,951.93 for Dow, 1,976.067 for Russell, $40.76 for EM ETF
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Coupon barriers: | 24,466.351 for Dow, 1,383.247 for Russell, $28.532 for EM ETF, 70% of initial levels
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Final barriers: | 24,466.351 for Dow, 1,383.247 for Russell, $28.532 for EM ETF, 70% of initial levels
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Pricing date: | July 18
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Settlement date: | July 21
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.75%
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Cusip: | 17291RKL5
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