Published on 7/16/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $106,000 callable contingent coupon equity notes on Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, July 16 – Citigroup Global Markets Holdings Inc. priced $106,000 of callable contingent coupon equity-linked securities due Dec. 1, 2022 linked to the worst performing of the Russell 2000 index and the Nasdaq-100 index, 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 5.5% if each index closes at or above its coupon barrier level, 85% 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 six months.
If the notes are not redeemed early, the payout will be par unless any index finishes below 85% of its initial level, in which case investors will lose 1% for every 1% that the least performing index declines beyond 15%.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Callable contingent coupon equity-linked securities
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Underlying indexes: | Russell 2000 index, Nasdaq-100 index
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Amount: | $106,000
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Maturity: | Dec. 1, 2022
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Contingent coupon: | 5.5% per year, payable monthly if each index closes at or above coupon barrier on the valuation date for that period
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Price: | Par
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Payout at maturity: | Par unless any index finishes below its buffer level, in which case investors will lose 1% for every 1% that the least performing index declines beyond 15%
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Call option: | In whole at par any monthly valuation date after six months
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Initial levels: | 2,273.073 for Russell, 13,657.85 for Nasdaq
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Coupon barrier levels: | 1,932.112 for Russell, 11,609.173 for Nasdaq; 85% of initial levels
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Buffer levels: | 1,932.112 for Russell, 11,609.173 for Nasdaq; 85% of initial levels
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Pricing date: | May 27
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Settlement date: | June 2
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.9%
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Cusip: | 17329FG40
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