Published on 4/11/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $14.99 million market-linked notes on commodities basket
By Wendy Van Sickle
Columbus, Ohio, April 11 – Citigroup Global Markets Holdings Inc. priced $14.99 million of 0% market-linked notes due Aug. 9, 2024 linked to a weighted basket of commodities and commodity futures contracts, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The basket consists of the West Texas Intermediate light sweet crude oil futures, Brent crude oil futures, natural gas futures, corn futures, soybeans futures, wheat futures, the grade A copper spot price and the special high-grade zinc spot price, each with a 12.5% weight.
The payout at maturity will be par plus any basket gain. Otherwise, investors will receive par.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the underwriters.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Market-linked notes
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| Underlying basket: | West Texas Intermediate light sweet crude oil futures, Brent crude oil futures, natural gas futures, corn futures, soybeans futures, wheat futures, grade A copper spot price and special high-grade zinc spot price, each with a 12.5% weight
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| Amount: | $14,991,000
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| Maturity: | Aug. 9, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any basket gain; otherwise, par
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| Initial level: | $96.23 for WTI, $101.07 for Brent crude, $6.029 for natural gas, $756.50 for corn, $1,619.50 for soybeans, $1,038.25 for wheat, $10,350.50 for copper and $4,306.00 for zinc
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| Pricing date: | April 6
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| Settlement date: | April 11
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| Underwriters: | Citigroup Global Markets Inc. and UBS Financial Services Inc
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| Fees: | 1.5%
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| Cusip: | 17330F2B6
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