Published on 11/1/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $766,000 callable contingent coupon equity notes on Nasdaq, Russell, Dow
Chicago, Nov. 1 – Citigroup Global Markets Holdings Inc. priced $766,000 of callable contingent coupon equity-linked securities due April 1, 2024 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, 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 9.1% if each index closes at or above its coupon barrier level, 75% 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 call valuation date after one year.
If the worst performer finishes above its 70% final barrier level, the payout at maturity will be par plus any coupon due. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying indexes: | Russell 2000 index, Dow Jones industrial average, Nasdaq-100 index
|
| Amount: | $766,000
|
| Maturity: | April 1, 2024
|
| Contingent coupon: | 9.1% per year, payable quarterly if each index closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon due if all indexes finish above final barrier level, par; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level
|
| Call option: | In whole at par plus any coupon due on any quarterly call valuation date after one year
|
| Initial levels: | 33,072.88 for Dow, 12,979.12 for Nasdaq, 2,221.482 for Russell
|
| Coupon barrier levels: | 24,804.660 for Dow, 9,734.340 for Nasdaq, 1,666.112 for Russell; 75% of initial levels
|
| Barrier levels: | 23,151.016 for Dow, 9,085.384 for Nasdaq, 1,555.037 for Russell; 70% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.95%
|
| Cusip: | 17329FBM5
|
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