Published on 6/17/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $29.08 million 15.25% callable equity-linked notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, June 17 – Citigroup Global Markets Holdings Inc. priced $29.08 million of 15.25% callable equity-linked securities due June 15, 2023 tied to the worst performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable monthly.
The notes will be callable on any monthly review date after six months.
If the notes have not been called, the payout at maturity will be par unless any index closes below its 70% downside threshold during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Callable equity-linked securities
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Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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Amount: | $29,075,000
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Maturity: | June 15, 2023
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Coupon: | 15.25%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any index closes below its downside threshold during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
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Call option: | At par plus the coupon on any monthly review date after six months
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Initial levels: | 3,900.86 for S&P, 1,800.284 for Russell, 11,832.82 for Nasdaq
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Downside thresholds: | 2,730.602 for S&P, 1,260.199 for Russell, 8,282.974 for Nasdaq; 70% of initial levels
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Pricing date: | June 10
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Settlement date: | June 15
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.35%
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Cusip: | 17329FZR5
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