Chicago, May 16 – Citigroup Global Markets Holdings Inc. priced $1.45 million of autocallable contingent coupon equity-linked securities due April 17, 2023 linked to the worst performing of the Financial Select Sector SPDR Fund and the SPDR S&P Regional Banking ETF, 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 annual rate of 8.5% if each ETF closes at or above the coupon barrier level, 80% of the initial level, on the valuation date for that period. Previously unpaid coupons will also be paid.
The notes will be automatically called at par plus the coupon if each ETF closes at or above its initial level, on any quarterly valuation date.
If the notes have not been called and each ETF finishes at or above its 80% final barrier, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing ETF declines from its initial level, payable in shares or cash at the issuer’s option.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
|
Guarantor: | Citigroup Inc.
|
Issue: | Autocallable contingent coupon equity-linked securities
|
Underlying funds: | Financial Select Sector SPDR Fund and the SPDR S&P Regional Banking ETF
|
Amount: | $1,450,000
|
Maturity: | April 17, 2023
|
Coupon: | 8.5 % annualized rate, payable quarterly if each ETF closes at or above coupon barrier level, on valuation date for that period; previously unpaid coupons will also be paid
|
Price: | Par
|
Payout at maturity: | If each ETF finishes at or above the barrier level, par plus final coupon; otherwise, 1% loss for every 1% that the worst performing ETF declines from its initial level
|
Call: | Automatically at par plus coupon if each ETF closes at or above initial level on any quarterly valuation date
|
Initial levels: | $38.63 for Financial, $69.89 for Banking
|
Coupon barrier levels: | $30.904 for Financial, $55.912 for Banking; 80% of initial levels
|
Barrier levels: | $30.904 for Financial, $55.912 for Banking; 80% of initial levels
|
Equity ratios: | 25.88662 for Financial, 14.3082 for Banking
|
Pricing date: | Oct. 11, 2021
|
Settlement date: | Oct. 14, 2021
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | 1.5%
|
Cusip: | 17328NZC5
|
|
© 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.