Published on 3/11/2021 in the Prospect News Structured Products Daily.
Correction: Citi corrects coupon on $9.07 million callable equity-linked notes on indexes
By Wendy Van Sickle
Columbus, Ohio, March 11 – Citigroup Global Markets Holdings Inc. priced $9.07 million of 9.16% callable equity-linked securities due Feb. 17, 2022 tied to the worst performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to an amended 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Citigroup had previously announced the issuance with a lower annual coupon.
Interest is payable monthly.
The notes will be callable on any quarterly review date after six months.
If the notes are not called and the final level of each index is at least 70% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the lesser performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Callable equity-linked securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
|
| Amount: | $9,066,000
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| Maturity: | Feb. 17, 2022
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| Coupon: | 9.16%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if each index finishes above 70% of its initial value; otherwise, 1% loss for every 1% decline
|
| Call option: | At par plus the coupon on any quarterly review date after six months
|
| Initial levels: | 3,934.83 for S&P, 2,289.357 for Russell and 13,807.7 for Nasdaq
|
| Downside thresholds: | 2,754.381 for S&P, 1,602.55 for Russell and 9,665.39 for Nasdaq, 70% of initial levels
|
| Pricing date: | Feb. 12
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| Settlement date: | Feb. 18
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| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.25%
|
| Cusip: | 17328YPQ1
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