Published on 2/13/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $4.19 million callable contingent coupon equity notes on S&P, Russell, Dow
By Kiku Steinfeld
Chicago, Feb. 16 – Citigroup Global Markets Holdings Inc. priced $4.19 million of callable contingent coupon notes due Aug. 5, 2022 linked to the least performing of the S&P 500 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 12.5% if each underlying asset closes at or above its coupon barrier level, 70% of its initial level, on the related monthly observation date.
The notes will be callable in whole at par quarterly.
If each asset finishes at or above its 70% final barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
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 notes
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| Underlying assets: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $4,191,000
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| Maturity: | Aug. 5, 2022
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| Contingent coupon: | 12.5% per year, payable each month that each underlying asset closes at or above coupon barrier on observation date for that month
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| Price: | Par
|
| Payout at maturity: | If each asset finishes at or above final barrier level, par; otherwise, full exposure to losses of least-performing asset
|
| Call option: | Callable at par quarterly
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| Initial values: | 3,773.86 for S&P, 2,126.163 for Russell and 30,211.91 for Dow
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| Coupon barriers: | 2,641.702 for S&P, 1,488.314 for Russell and 21,148.337 for Dow; 70% of initial levels
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| Final barriers: | 2,641.702 for S&P, 1,488.314 for Russell and 21,148.337 for Dow; 70% of initial levels
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| Pricing date: | Feb. 2
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| Settlement date: | Feb. 5
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.1%
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| Cusip: | 17328YRB2
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