Published on 3/28/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $827,000 contingent coupon autocalls on Dow, Nasdaq
Chicago, March 28 – Citigroup Global Markets Holdings Inc. priced $827,000 of autocallable contingent coupon equity linked securities due Aug. 1, 2022 linked to the worst performing of the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each month, the notes will pay a contingent coupon at an annual rate of 6% if each index closes at or above its 80% coupon barrier on the observation date for that period.
The notes will be called at par if each index closes at or above its initial level on any monthly observation date after six months.
The payout at maturity will be par unless either index finishes below its initial level and either index closes below its 80% final barrier level, in which case investors will be fully exposed to the decline in the worst performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity linked securities
|
| Underlying indexes: | Dow Jones industrial average and Nasdaq-100 index
|
| Amount: | $827,000
|
| Maturity: | Aug. 1, 2022
|
| Coupon: | 6% annualized, payable each month that each index closes at or above coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its final barrier level, in which case full exposure to the decline in the worst performing index
|
| Call: | At par if each index closes at or above initial level on any monthly observation date after six months
|
| Initial levels: | 33,984.93 for Dow, 13,960.28 for Nasdaq
|
| Coupon barriers: | 27,187.944 for Dow, 11,168.224 for Nasdaq; 80% of initial levels
|
| Knock-in levels: | 27,187.944 for Dow, 11,168.224 for Nasdaq; 80% of initial levels
|
| Pricing date: | April 27, 2021
|
| Settlement date: | April 30, 2021
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Cusip: | 17329F2L7
|
|
|
© 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.
