Published on 3/6/2021 in the Prospect News Structured Products Daily.
New Issue: Citi prices $10 million trigger callable contingent yield notes on three indexes
Chicago, March 8 – Citigroup Global Markets Holdings Inc. priced $10 million of trigger callable contingent yield notes due Jan. 29, 2026 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon at a rate of 8% per year if each index closes at or above its coupon barrier, 60% of its initial level, on the observation date that quarter.
The notes are callable at par of $10 plus any coupon due on any quarterly coupon payment date.
If the notes are not called and each index finishes at or above its downside threshold, 50% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
Citigroup Global Markets Inc. is the underwriter, and UBS Financial Services Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index and MSCI Emerging Markets index
|
| Amount: | $10 million
|
| Maturity: | Jan. 29, 2026
|
| Coupon: | 8% per year, payable each quarter that each index closes at or above its coupon barrier on observation date that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, full exposure to decline of least-performing index below its initial level
|
| Call option: | At par plus any coupon due on any quarterly coupon payment date
|
| Initial levels: | 3,553.14 for Stoxx, 2,163.272 for Russell, 1,410.20 for MSCI EM
|
| Coupon barriers: | 2,131.88 for Stoxx, 1,297.963 for Russell, 846.12 for MSCI EM; 60% of initial levels
|
| Downside thresholds: | 1,776.57 for Stoxx, 1,081.636 for Russell, 705.10 for MSCI EM; 50% of initial levels
|
| Pricing date: | Jan. 25
|
| Settlement date: | Jan. 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 17329B459
|
|
|
© 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.
