Published on 1/6/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $4.04 million callable contingent coupon securities on indexes
By Wendy Van Sickle
Columbus, Ohio, Jan. 6 – Citigroup Global Markets Holdings Inc. priced $4.04 million of 0% callable contingent coupon equity-linked securities due Sept. 25, 2025 linked to the least performing of the Dow Jones Industrial Average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a coupon of 5.25% per annum on a quarterly basis if the least-performing index closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that quarter.
The notes may be called at par plus any coupon due at the issuer’s option on any quarterly valuation date after one year.
If all the indexes finish above their final barrier levels, 70% of their initial levels, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying indexes: | Dow Jones Industrial Average, S&P 500 index and Russell 2000 index
|
| Amount: | $4,035,000
|
| Maturity: | Sept. 25, 2025
|
| Coupon: | 5.25% per annum on a quarterly basis if the least-performing index closes at or above its coupon barrier value for that quarter
|
| Price: | Par
|
| Payout at maturity: | If all the indexes finish above final barrier levels, par plus the final coupon; otherwise, 1% loss for each 1% decline of the least-performing index from its initial level
|
| Call: | At par plus any contingent coupon due at the issuer’s option on any quarterly valuation date after one year
|
| Initial levels: | 30,216.45 for Dow, 3,694.92 for S&P and 1,970.329 for Russell
|
| Coupon/final barrier levels: | 21,151.515 for Dow, 2,586.444 for S&P and 1,379.23 for Russell, 70% of initial levels
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.75%
|
| Cusip: | 17328Y2H6
|
|
|
|
|
© 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.
