Published on 11/17/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.37 million 6.25% callable contingent coupon equity notes on indexes
Chicago, Nov. 17 – Citigroup Global Markets Holdings Inc. priced $1.37 million of callable contingent coupon equity linked securities due March 8, 2027 linked to the worst performing of the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.25% paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called at par starting March 3, 2023 and on any subsequent quarterly review date.
The payout at maturity will be par if the worst performing index ends at or above its 65% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing index 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 indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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Amount: | $1,374,000
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Maturity: | March 8, 2027
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Coupon: | 6.25% annual rate, paid monthly if the worst performing index 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 index finishes at or above final barrier par; 1% loss for every 1% that worst performing index declines if it ends below final barrier
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Call: | At par starting March 3, 2023 and on any subsequent quarterly review date at issuer’s option
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Initial levels: | 33,794.66 for Dow, 14,035.21 for Nasdaq, 2,032.410 for Russell
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Coupon barriers: | 23,656.262 for Dow, 9,824.647 for Nasdaq, 1,422.687 for Russell, 70% of initial levels
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Final barriers: | 21,966.529 for Dow, 9,122.887 for Nasdaq, 1,321.067 for Russell, 65% of initial levels
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Pricing date: | March 3
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Settlement date: | March 8
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.125%
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Cusip: | 17330ANF5
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