Published on 11/9/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $633,000 callable contingent coupon equity notes on Nasdaq, Russell
By Kiku Steinfeld
Chicago, Nov. 9 – Citigroup Global Markets Holdings Inc. priced $633,000 of callable contingent coupon equity-linked securities due July 30, 2026 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 4.5% if each index closes at or above its coupon barrier level, 85% 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 one year.
If the notes are not redeemed early, the payout will be par unless any index finishes below 85% of its initial level, in which case investors will lose 1% for every 1% that the least performing index declines beyond 15%.
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, Nasdaq-100 index
|
| Amount: | $633,000
|
| Maturity: | July 30, 2026
|
| Contingent coupon: | 4.5% 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 unless any index finishes below its buffer level, in which case investors will lose 1% for every 1% that the least performing index declines beyond 15%
|
| Call option: | In whole at par any quarterly valuation date after one year
|
| Initial levels: | 14,956.97 for Nasdaq, 2,191.833 for Russell
|
| Coupon barrier levels: | 12,713.425 for Nasdaq, 1,863.058 for Russell; 85% of initial levels
|
| Buffer levels: | 12,713.425 for Nasdaq, 1,863.058 for Nasdaq; 85% of initial levels
|
| Pricing date: | July 27
|
| Settlement date: | July 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.75%
|
| Cusip: | 17329Q5A4
|
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