Published on 2/1/2023 in the Prospect News Structured Products Daily.
New Issue: Citi sells $546,000 autocallable contingent coupon market-linked notes on indexes
By Kiku Steinfeld
Chicago, Feb. 1 – Citigroup Global Markets Holdings Inc. priced $546,000 of 0% autocallable contingent coupon market-linked notes due Nov. 8, 2027 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Investors will receive a contingent monthly coupon at an 7% annual rate if each index closes at or above its 80% coupon barrier on the relevant observation date.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any quarterly valuation date after one year.
If the notes have not been called and each index finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon. Otherwise, the payout will be par.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
|
Guarantor: | Citigroup Inc.
|
Issue: | Autocallable contingent coupon market-linked notes
|
Underlying indexes: | Russell 2000 index, Nasdaq-100 index, S&P 500 index
|
Amount: | $546,000
|
Maturity: | Nov. 8, 2027
|
Coupon: | 7% per year, payable monthly if each index closes at or above its coupon barrier on the corresponding observation date
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above coupon barrier, par plus final coupon; otherwise, par
|
Call: | Automatically at par plus the coupon if each index closes at or above its initial level on any quarterly valuation date after one year
|
Initial levels: | 1,779.730 for Russell, 10,690.60 for Nasdaq, 3,719.89 for S&P
|
Coupon barriers: | 1,423.784 for Russell, 8,552.480 for Nasdaq, 2,975.912 for S&P; 80% of initial levels
|
Pricing date: | Nov. 3, 2022
|
Settlement date: | Nov. 8, 2022
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | 3.25%
|
Cusip: | 17330YC65
|
|
© 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.