Published on 5/19/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.07 million equity-linked securities on two ETFs
By Wendy Van Sickle
Columbus, Ohio, May 19 – Citigroup Global Markets Holdings Inc. priced $2.07 million of equity-linked securities due Nov. 17, 2023 tied to the least performing of the shares of Invesco QQQ trust, series 1 and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 6.65% per year, payable monthly.
If each ETF finishes at or above 70% of its initial level, the payout at maturity will be par. Otherwise, investors will receive a number of shares of the worst performer equal to $1,000 divided by that ETF’s initial share price or the cash equivalent at the issuer’s discretion.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
|
Guarantor: | Citigroup Inc.
|
Issue: | Equity-linked securities
|
Underlying ETFs: | Invesco QQQ trust, series 1, SPDR S&P 500 ETF Trust
|
Amount: | $2,074,000
|
Maturity: | Nov. 17, 2023
|
Coupon: | 6.65% per year, payable monthly; 3.325% for term of securities
|
Price: | Par
|
Payout at maturity: | If each ETF finishes at or above barrier, par; otherwise, investors will receive shares of the worst performer or the cash equivalent at the issuer’s discretion
|
Initial levels: | $327.16 for QQQ, $410.25 for S&P
|
Barrier levels: | $229.012 for QQQ, $287.175 for S&P; 70% of initial levels
|
Physical delivery: | 3.05661 for QQQ, 2.43754 for S&P; share delivery per note
|
Pricing date: | May 16
|
Settlement date: | May 19
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | 0.75%
|
Cusip: | 17331AHD6
|
|
|
|
© 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.