Published on 4/7/2021 in the Prospect News Structured Products Daily.
New Issue: Citi prices $900,000 contingent coupon autocalls on ETFs
By Wendy Van Sickle
Columbus, Ohio, April 7 – Citigroup Global Markets Holdings Inc. priced $900,000 of autocallable contingent coupon equity-linked securities due April 2, 2024 linked to the least performing of the iShares Russell 2000 ETF, SPDR Euro Stoxx 50 ETF and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Each six months, the notes pay a contingent coupon at the rate of 7% per year if the least-performing ETF closes at or above its coupon barrier value, 65% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par if the least-performing ETF closes at or above its initial price on any semiannual valuation date.
The payout at maturity will be par unless the least-performing ETF finishes below its final barrier value, 65% of its initial share price, in which case investors will we fully exposed to the decline of the least-performing ETF.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying ETFs: | iShares Russell 2000 ETF, SPDR Euro Stoxx 50 ETF and SPDR S&P 500 ETF Trust
|
| Amount: | $900,000
|
| Maturity: | April 2, 2024
|
| Coupon: | 7% per year, payable semiannually if least-performing ETF closes at or above coupon barrier value on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless least-performing ETF finishes below final barrier value, in which case full exposure to decline of least performer
|
| Call: | Automatically at par if the least-performing ETF closes at or above its initial price on any semiannual valuation date
|
| Initial share prices: | $217.06 for Russell, $43.69 for Stoxx, $389.50 for S&P
|
| Coupon barriers: | $141.089 for Russell, $28.399 for Stoxx, $253.175 for S&P, or 65% of initial share prices
|
| Final barrier values: | $141.089 for Russell, $28.399 for Stoxx, $253.175 for S&P, or 65% of initial share prices
|
| Pricing date: | March 23
|
| Settlement date: | March 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.2%
|
| Cusip: | 17329F2V5
|
|
|
© 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.
