Published on 7/16/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $39.38 million 12.022% callable equity notes on indexes
Chicago, July 16 – Citigroup Global Markets Holdings Inc. priced $39.38 million of 12.022% callable equity linked securities due July 17, 2024 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.
Coupons will be paid monthly.
The securities may be called at par on any coupon payment date starting after six months.
At maturity, if no index ever closes below the 70% knock-in level or all three indexes close above their starting levels, investors will receive par. Otherwise, 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.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable equity linked securities
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
|
| Amount: | $39.38 million
|
| Maturity: | July 17, 2024
|
| Coupon: | 12.022% annual rate, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if none of the indexes close below the knock-in level during the life of the notes or if all three indexes finish above their initial levels; otherwise 1% loss for every 1% that worst performing index declines
|
| Call: | Callable at par on any monthly coupon payment date starting after six months
|
| Initial levels: | 15,119.06 for Nasdaq, 1,913.361 for Russell, 4,439.26 for S&P
|
| Knock-in levels: | 10,583.342 for Nasdaq, 1,339.353 for Russell, 3,107.482 for S&P, 70% of initial levels
|
| Pricing date: | July 11
|
| Settlement date: | July 17
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.45%
|
| Cusip: | 17291RFD9
|
|
|
© 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.
