Published on 11/2/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.02 million callable contingent coupon equity notes on S&P, Nasdaq
Chicago, Nov. 2 – Citigroup Global Markets Holdings Inc. priced $1.02 million of callable contingent coupon equity-linked securities due Dec. 30, 2022 linked to the lesser performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Citigroup Inc. is guaranteeing the notes.
The notes will pay a contingent monthly coupon at annual rate of 8.15% if each index closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.
The notes will be callable at par plus any coupon due on any monthly call valuation date after three months.
The payout at maturity will be par if both indexes finish above their initial levels. Investors will also receive par if neither index ever closes below its 60% knock-in level. Otherwise, investors will be exposed to the decline of the worst performing index.
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 indexes: | S&P 500 index, Nasdaq-100 index
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| Amount: | $1,024,000
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| Maturity: | Dec. 30, 2022
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| Coupon: | 8.15%, payable monthly if each index closes at or above coupon barrier on observation date
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| Price: | Par
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| Call option: | At par plus any coupon due on any monthly call valuation date after three months
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| Payout at maturity: | Par if both indexes close above initial levels; par if neither index ever closes below knock-in levels; otherwise, full exposure to decline of worst performer
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| Initial levels: | 12,979.12 for Nasdaq, 3,974.54 for S&P
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| Coupon barriers: | 7,787.472 for Nasdaq, 2,384.724 for S&P; 60% of initial levels
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| Knock-in values: | 7,787.472 for Nasdaq, 2,384.724 for S&P; 60% of initial levels
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| Pricing date: | March 26
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| Settlement date: | March 31
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.725%
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| Cusip: | 17329FA53
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