Published on 6/12/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.38 million callable contingent coupon notes on Russell, Nasdaq, S&P
By Kiku Steinfeld
Chicago, June 14 – Citigroup Global Markets Holdings Inc. priced $1.38 million of callable contingent coupon notes due Dec. 23, 2021 linked to the worst performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 4.25% if each index closes at or above its coupon barrier level, 70% of its initial level, on a related observation date.
The notes will be callable in whole at par plus any coupon due on any monthly observation date after three months.
If the notes are not redeemed, the payout will be par 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.
The notes are guaranteed by Citigroup Inc.
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 indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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| Amount: | $1,375,000
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| Maturity: | Dec. 23, 2021
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| Contingent coupon: | 4.25% per year, payable monthly if each index closes at or above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below final barrier level, in which case investors will be fully exposed to the loss of the least performing index
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| Call option: | In whole at par plus any coupon due on any monthly observation date after three months
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| Initial levels: | 4,127.83 for S&P, 13,217.68 for Nasdaq, 2,210.877 for Russell
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| Coupon barrier levels: | 2,889.48 for S&P, 9,252.376 for Nasdaq, 1,547.614 for Russell; 70% of initial levels
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| Trigger levels: | 2,683.09 for S&P, 8,591.492 for Nasdaq, 1,437.07 for Russell; 65% of initial levels
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| Pricing date: | May 18
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| Settlement date: | May 21
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
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| Cusip: | 17329FNL4
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