Published on 7/28/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $595,000 callable contingent coupon equity notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., July 28 – Citigroup Global Markets Holdings Inc. priced $595,000 of callable contingent coupon equity-linked securities due Oct. 27, 2022 linked to the performance of the iShares Russell 2000 ETF, the S&P 500 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 monthly coupon at an annualized rate of 4.7% if each underlying closes at or above its coupon barrier level, 80% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any quarterly valuation date after six months.
If the notes are not redeemed early, the payout will be par unless any underlying finishes below 70% of its initial level, in which case investors will lose 1% for every 1% that the least performing asset declines.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying assets: | iShares Russell 2000 ETF, Nasdaq-100 index, S&P 500 index
|
| Amount: | $595,000
|
| Maturity: | Oct. 27, 2022
|
| Contingent coupon: | 4.7% per year, payable monthly if each underlying closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlying finishes below its final barrier level, in which case investors will lose 1% for every 1% that the least performing asset declines
|
| Call option: | In whole at par on any quarterly valuation date after six months
|
| Initial levels: | $218.53 for ETF, 4,367.48 for S&P, 14,940.17 for Nasdaq
|
| Coupon barrier levels: | $174.824 for ETF, 3,493.984 for S&P, 11,952.136 for Nasdaq; 80% of initial levels
|
| Final barrier levels: | $152.971 for ETF, 3,057.236 for S&P, 10,458.119 for Nasdaq; 70% of initial levels
|
| Pricing date: | July 22
|
| Settlement date: | July 27
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.225%
|
| Cusip: | 17329QMP2
|
|
|
© 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.
