Published on 11/14/2020 in the Prospect News Structured Products Daily.
New Issue: Citi sells $2.69 million callable contingent coupon equity notes on Nasdaq, Russell, Dow
By Taylor Fox
New York, Nov. 16 – Citigroup Global Markets Holdings Inc. priced $2.69 million of callable contingent coupon equity-linked securities due Oct. 25, 2022 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 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 pay a contingent monthly coupon at an annualized rate of 10.25% if each index closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any monthly valuation date after three months.
If the notes are not redeemed early, the payout will be par plus the final coupon unless any index finishes below 65% of its initial level, in which case investors will lose 1% for every 1% that the least performing index declines.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
|
Guarantor: | Citigroup Inc.
|
Issue: | Callable contingent coupon equity-linked securities
|
Underlying indexes: | Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index
|
Amount: | $2,685,000
|
Maturity: | Oct. 25, 2022
|
Contingent coupon: | 10.25% per year, payable monthly if each index closes at or above coupon barrier on the valuation date for that period
|
Price: | Par
|
Payout at maturity: | Par plus final coupon unless any index finishes below 65% of its initial level, in which case investors will lose 1% for every 1% that the least performing index declines
|
Call option: | In whole at par plus any coupon due on any monthly valuation date after three months
|
Initial levels: | 1,617.706 for Russell, 28,308.79 for Dow, 11,677.84 for Nasdaq
|
Coupon barriers: | 1,132.394 for Russell, 19,816.153 for Dow, 8,174.488 for Nasdaq; 70% of initial levels
|
Barrier levels: | 1,051.509 for Russell, 18,400.714 for Dow, 7,590.596 for Nasdaq; 65% of initial levels
|
Pricing date: | Oct. 20
|
Settlement date: | Oct. 23
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | 0.6%
|
Cusip: | 17328WVU9
|
|
© 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.