E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 7/7/2021 in the Prospect News Structured Products Daily.

New Issue: Citigroup sells $11.17 million contingent market-linked autocalls on four funds

By Wendy Van Sickle

Columbus, Ohio, July 7– Citigroup Global Markets Holdings Inc. priced $11.17 million of market-linked securities due June 27, 2024 – autocallable with contingent coupon and contingent downside linked to the worst performing of the Technology Select Sector SPDR fund, the Financial Select Sector SPDR fund, the Consumer Staples Select Sector SPDR fund and the Energy Select Sector SPDR fund, 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 fund closes at or above its 70% coupon threshold on the observation date for that quarter.

The notes will be called at par plus coupon if each fund closes at or above its initial level on any quarterly observation date after six months.

The payout at maturity will be par unless any fund finishes below its 70% barrier value, in which case the payout will be par plus the return of the worst performing fund with full exposure to any losses.

Wells Fargo Securities, LLC and Citigroup Global Markets Inc. are the agents.

Issuer:Citigroup Global Markets Holdings Inc.
Guarantor:Citigroup Inc.
Issue:Market linked securities – autocallable with contingent coupon and contingent downside
Underlying funds:Technology Select Sector SPDR fund, Financial Select Sector SPDR fund, Energy Select Sector SPDR fund, Consumer Staples Select Sector SPDR fund
Amount:$11,171,000
Maturity:June 27, 2024
Coupon:8.5% annualized, payable quarterly if each fund closes at or above coupon threshold on observation date for that quarter
Price:Par
Payout at maturity:Par unless any fund finishes below downside threshold, in which case 1% loss per 1% decline of worst performing fund
Call:At par plus coupon if each fund closes at or above its initial level on any observation date after six months
Initial levels:$147.82 for Technology, $36.53 for Financial, $53.21 for Energy Select, $69.43 for Consumer Staples
Coupon thresholds:$103.474 for Technology, $25.571 for Financial, $37.247 for Energy Select, $48.601 for Consumer Staples; 70% of initial levels
Downside thresholds:$103.474 for Technology, $25.571 for Financial, $37.247 for Energy Select, $48.601 for Consumer Staples; 70% of initial levels
Pricing date:June 29
Settlement date:July 2
Agents:Wells Fargo Securities, LLC and Citigroup Global Markets Inc.
Fees:2.125%
Cusip:17329FG57

© 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.