Published on 7/14/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $4.58 million callable contingent coupon equity notes on index, ETFs
Chicago, July 14 – Citigroup Global Markets Holdings Inc. priced $4.58 million of callable contingent coupon equity linked securities due July 15, 2026 linked to the worst performing of the Russell 2000 index, SPDR S&P Regional Banking ETF and iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.2% paid quarterly if the worst performing asset closes at or above its 55% coupon barrier on the related valuation date.
The securities may be called starting Jan. 10, 2024 at par and on any subsequent quarterly review date.
The payout at maturity will be par if the worst performing asset ends at or above its 55% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing asset declines.
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 contingent coupon equity linked securities
|
| Underlying assets: | Russell 2000 index, SPDR S&P Regional Banking ETF and iShares MSCI Emerging Markets ETF
|
| Amount: | $4,578,000
|
| Maturity: | July 15, 2026
|
| Coupon: | 11.2% annual rate, paid quarterly if the worst performing asset closes at or above its 55% coupon barrier on the related valuation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing asset finishes at or above final barrier par; 1% loss for every 1% that worst performing asset declines if it ends below final barrier
|
| Call: | Starting Jan. 10, 2024 at par and on any subsequent quarterly review date
|
| Initial levels: | 1,895.252 for Russell, $41.80 for Banking ETF, $39.42 for Emerging Markets ETF
|
| Coupon barriers: | 1,042.389 for Russell, $22.990 for Banking ETF, $21.681 for Emerging Markets ETF, 55% of initial levels
|
| Final barriers: | 1,042.389 for Russell, $22.990 for Regional Banking ETF, $21.681 for Emerging Markets ETF, 55% of initial levels
|
| Pricing date: | July 10
|
| Settlement date: | July 13
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17291RHC9
|
|
|
© 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.
