Published on 3/3/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $2.25 million callable contingent coupon equity notes on index, ETF
By William Gullotti
Buffalo, N.Y., March 3 – Citigroup Global Markets Holdings Inc. priced $2.25 million of callable contingent coupon equity-linked securities due March 4, 2025 linked to the worst performing of the Energy Select Sector SPDR Fund and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent semiannual coupon at an annualized rate of 13.5% if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any semiannual call valuation date after one year.
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 70% 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: | S&P 500 index, Energy Select Sector SPDR Fund
|
Amount: | $2,253,000
|
Maturity: | March 4, 2025
|
Contingent coupon: | 13.5% per year, payable semiannually 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 the 70% 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 semiannual call valuation date after one year
|
Initial levels: | $68.88 for ETF, 4,384.65 for index
|
Coupon barrier levels: | $48.216 for ETF, 3,069.255 for index; 70% of initial levels
|
Barrier levels: | $48.216 for ETF, 3,069.255 for index; 70% of initial levels
|
Pricing date: | Feb. 25
|
Settlement date: | March 4
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | None
|
Cusip: | 17330AVB5
|
|
|
© 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.