Published on 6/19/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.36 million callable contingent coupon equity notes on Russell, Nasdaq
By Kiku Steinfeld
Chicago, June 21 – Citigroup Global Markets Holdings Inc. priced $1.36 million of callable contingent coupon equity-linked securities due May 26, 2022 linked to the worst performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 11.65% if each index closes at or above its coupon barrier level, 80% of its initial level, on the valuation date of that quarterly period.
The notes will be callable in whole at par plus any coupon due on any quarterly valuation date.
If the notes are not redeemed early, the payout will be par unless any index finishes below 80% of its initial level, in which case investors will lose 1% for every 1% that the least performing index declines.
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 equity-linked securities
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Underlying assets: | Nasdaq-100 index and Russell 2000 index
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Amount: | $1,361,000
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Maturity: | May 26, 2022
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Contingent coupon: | 11.65% per year, payable quarterly if each index closes at or above coupon barrier on the valuation date for that period
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Price: | Par
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Payout at maturity: | Par unless any index finishes below 80% of its initial level, in which case investors will lose 1% for every 1% that the least performing index declines
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Call option: | In whole at par plus any coupon due on any quarterly valuation date
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Initial levels: | 2,215.268 for Russell and 13,411.74 for Nasdaq
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Coupon barrier levels: | 1,772.214 for Russell and 10,729.392 for Nasdaq, 80% of initial levels
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Buffer levels: | 1,772.214 for Russell and 10,729.392 for Nasdaq, 80% of initial levels
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Pricing date: | May 21
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Settlement date: | May 26
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17329FMM3
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