Published on 8/30/2020 in the Prospect News Structured Products Daily.
New Issue: Citi sells $2.11 million callable contingent coupon notes on Nasdaq, Russell, Dow
By Kiku Steinfeld
Chicago, Aug. 31 – Citigroup Global Markets Holdings Inc. priced $2.11 million of callable contingent coupon equity-linked securities due May 26, 2022 linked to the worst performing of the Dow Jones industrial average, 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 quarterly coupon at an annualized rate of 8% if each asset 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 quarterly valuation date.
If the notes are not redeemed, the payout will be par plus any final coupon unless any index finishes below 65% of its initial level, in which case investors will be fully exposed to the loss of the least performing index.
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: | Dow Jones industrial average, Nadaq-100 index and Russell 2000 index
|
| Amount: | $2,107,000
|
| Maturity: | May 26, 2022
|
| Contingent coupon: | 8% per year, payable quarterly if each asset closes at or above coupon barrier on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any index finishes below 65% of its initial level, in which case investors will be fully exposed to the loss of the least performing index
|
| Call option: | In whole at par plus any coupon due on any quarterly valuation date
|
| Initial level: | 27,930.33 for Dow, 1,552.476 for Russell, 11,555.16 for Nasdaq
|
| Coupon barriers: | 19,551.231 for Dow, 1,086.733 for Russell, 8,088.612 for Nasdaq; 70% of initial levels
|
| Final barriers: | 18,154.715 for Dow, 1,009.109 for Russell, 7,510.854 for Nasdaq; 65% of initial levels
|
| Pricing date: | Aug. 21
|
| Settlement date: | Aug. 26
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.225%
|
| Cusip: | 17328WHZ4
|
|
|
|
|
© 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.
