Published on 6/6/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $4.99 million trigger callable contingent yield notes on Dow, Stoxx
By William Gullotti
Buffalo, N.Y., June 6 – Citigroup Global Markets Holdings Inc. priced $4.99 million of trigger callable contingent yield notes due Aug. 31, 2023 linked to the Euro Stoxx 50 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annualized rate of 8.9% if each index closes at or above its coupon barrier, 60% of its initial value, on the relevant observation date.
The notes are redeemable in whole, at the issuer’s option, at par plus any coupon otherwise due on any monthly observation date after three months.
The payout at maturity will be par plus the final coupon if each index finishes at or above its 60% downside threshold. Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial value.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | Euro Stoxx 50 index, Dow Jones industrial average
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| Amount: | $4,985,000
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| Maturity: | Aug. 31, 2023
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| Coupon: | 8.9% per year, payable monthly if each index closes at or above coupon barrier on the corresponding observation date
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| Price: | Par of $10
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| Payout at maturity: | Par plus coupon if each index finishes at or above downside threshold; otherwise, 1% loss for each 1% decline of the worst performer from initial value
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| Call: | In whole at par plus any coupon otherwise due on any monthly observation date after three months
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| Initial values: | 3,740.31 for Stoxx, 32,637.19 for Dow
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| Coupon barriers: | 2,244.19 for Stoxx, 19,582.31 for Dow; 60% of initial value
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| Downside thresholds: | 2,244.19 for Stoxx, 19,582.31 for Dow; 60% of initial value
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| Pricing date: | May 26
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| Settlement date: | May 31
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| Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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| Fees: | None
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| Cusip: | 17330M320
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