Published on 4/27/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $2 million callable contingent coupon equity notes on indexes, EAFE ETF
By Kiku Steinfeld
Chicago, April 27 – Citigroup Global Markets Holdings Inc. priced $2 million of callable contingent coupon equity-linked securities due April 11, 2023 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 9.5% if each asset closes at or above its coupon barrier price, 70% of its initial price, on the valuation date for that quarter.
The notes will be callable at par on any quarterly call valuation date.
If the notes are not called and each asset finishes at or above its final barrier price, 65% of its initial level, the payout at maturity will be par. Otherwise, investors will be exposed to the decline of the worst performer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying assets: | Nasdaq-100 index, Russell 2000 index and iShares MSCI EAFE ETF
|
| Amount: | $2 million
|
| Maturity: | April 11, 2023
|
| Coupon: | 9.5% annualized rate, payable quarterly if each asset closes at or above coupon barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par if each asset closes at or above final barrier; otherwise, investors will be exposed to decline of worst performer
|
| Call option: | Callable at par plus coupon on any quarterly call valuation date
|
| Initial levels: | $76.86 for ETF, 13,329.51 for Nasdaq, 2,253.903 for Russell
|
| Coupon barrier levels: | $53.802 for ETF, 9,330.657 for Nasdaq, 1,577.732 for Russell, 70% of initial levels
|
| Final barrier levels: | $49.959 for ETF, 8,664.182 for Nasdaq, 1,465.037 for Russell, 65% of initial levels
|
| Strike date: | April 1
|
| Pricing date: | April 5
|
| Settlement date: | April 8
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17329FB45
|
© 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.
