Published on 11/26/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $732,000 callable contingent coupon equity notes on index, ETFs
By Kiku Steinfeld
Chicago, Nov. 29 – Citigroup Global Markets Holdings Inc. priced $732,000 of callable contingent coupon equity-linked securities due Aug. 16, 2024 linked to the worst performing of the Nasdaq-100 index, the Financial Select Sector SPDR fund and the Energy Select Sector SPDR fund, 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 10.25% if each asset closes at or above its coupon barrier level, 70% 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 monthly valuation date after six months.
If the notes are not redeemed, the payout will be par unless any asset finishes below 70% of its initial level, in which case investors will be fully exposed to the loss of the least performing asset.
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 assets: | Nasdaq-100 index, Financial Select Sector SPDR Fund and Energy Select Sector SPDR fund
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| Amount: | $732,000
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| Maturity: | Aug. 16, 2024
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| Contingent coupon: | 10.25% per year, payable monthly if each asset closes at or above coupon barrier on the valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below final barrier, in which case investors will be fully exposed to the loss of the least performing asset
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| Call option: | In whole at par plus any coupon due on any monthly valuation date after six months
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| Initial levels: | $49.42 for Energy, $38.58 for Financial, 15,136.68 for Nasdaq
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| Coupon barriers: | $34.594 for Energy, $27.006 for Financial, 10,595.676 for Nasdaq; 70% of initial levels
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| Final barriers: | $34.594 for Energy, $27.006 for Financial, 10,595.676 for Nasdaq; 70% of initial levels
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| Pricing date: | Aug. 13
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| Settlement date: | Aug. 18
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.95%
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| Cusip: | 17329QD80
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