Published on 11/2/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $22.71 million 11.15% callable equity-linked notes on three indexes
By William Gullotti
Buffalo, N.Y., Nov. 2 – Citigroup Global Markets Holdings Inc. priced $22.71 million of 11.15% callable equity-linked securities due Oct. 13, 2022 tied to the worst performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable monthly.
The notes will be callable on any monthly review date after six months.
If the notes have not been called, the payout at maturity will be par unless any index closes below its 70% downside threshold during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst peformer finishes below its initial level.
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 equity-linked securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $22,714,000
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| Maturity: | Oct. 13, 2022
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| Coupon: | 11.15%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below its downside threshold during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst peformer finishes below its initial level
|
| Call option: | At par plus the coupon on any monthly review date after six months
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| Initial levels: | 4,399.76 for S&P, 2,250.094 for Russell, 14,897.13 for Nasdaq
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| Downside thresholds: | 3,079.832 for S&P, 1,575.066 for Russell, 10,427.991 for Nasdaq; 70% of initial levels
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| Pricing date: | Oct. 7
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| Settlement date: | Oct. 13
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17329QSN1
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