Published on 12/20/2021 in the Prospect News Structured Products Daily.
New Issue: Citi prices $6.04 million trigger autocallable contingent yield notes on S&P, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Dec. 20 – Citigroup Global Markets Holdings Inc. priced $6.04 million of trigger autocallable contingent yield notes due Dec. 13, 2024 linked to the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 8.42% if each index closes at or above its coupon barrier, 70% of its initial value, on the corresponding observation date.
The notes will be redeemed at par plus the coupon if each index closes at or above their initial values on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless either index finishes below the 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performer from its initial value.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | S&P 500 index, Euro Stoxx 50 index
|
| Amount: | $6.04 million
|
| Maturity: | Dec. 13, 2024
|
| Coupon: | 8.42% per year, payable quarterly if each index closes at or above coupon barrier on the corresponding observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus coupon if each index finishes at or above downside threshold; otherwise, 1% loss for each 1% decline of the worst performer from initial value
|
| Call: | At par plus the coupon if each index closes at or above initial values on any quarterly observation date after six months
|
| Initial value: | 4,712.02 for S&P, 4,199.16 for Stoxx
|
| Coupon barrier: | 3,298.41 for S&P, 2,939.41 for Stoxx; 70% of initial value
|
| Downside threshold: | 3,298.41 for S&P, 2,939.41 for Stoxx; 70% of initial value
|
| Pricing date: | Dec. 10
|
| Settlement date: | Dec. 15
|
| Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
|
| Fees: | 0%
|
| Cusip: | 17329T666
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
