Chicago, May 11 – Citigroup Global Markets Holdings Inc. priced $700,000 of callable contingent coupon equity-linked securities due Oct. 3, 2024 linked to the common stock of Apple Inc., 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 9% if the stock closes at or above the coupon barrier price, 80% of the initial price, on the valuation date for that period.
The notes may be called at par plus any coupon due on any quarterly valuation date.
If the notes are not called and the final share price is greater than or equal to the 70% final barrier price, the payout at maturity will be par plus any final coupon.
Otherwise, investors will receive a number of shares equal to $1,000 divided by the stock’s initial share price or the cash equivalent at the issuer’s option.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying stocks: | Apple Inc.
|
| Amount: | $700,000
|
| Maturity: | Oct. 3, 2024
|
| Coupon: | 9% annually, payable quarterly, if stock closes at or above coupon barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and final share price is greater than or equal to final barrier price, par plus final coupon; otherwise, full exposure to decline in the stock, payable as cash or 7.00133 shares per security at the issuer’s discretion
|
| Call: | At par plus any coupon due on any quarterly valuation date
|
| Initial share price: | $142.83
|
| Coupon barrier price: | $114.264; 80% of initial level
|
| Final barrier price: | $99.981; 70% of initial level
|
| Pricing date: | Sept. 29, 2021
|
| Settlement date: | Oct. 4, 2021
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.7%
|
| Cusip: | 17328NC48
|
|
|
© 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.
