Published on 2/16/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $719,000 market-linked notes with quarterly averaging on basket
By Wendy Van Sickle
Columbus, Ohio, Feb. 16 – Citigroup Global Markets Holdings Inc. priced $719,000 of 0% market-linked notes with upside participation, quarterly averaging and principal return at maturity due Feb. 5, 2029 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket contains the Euro Stoxx 50 index (60% weight), Topix index (12% weight), FTSE 100 index (10% weight), Swiss Market index (10% weight) and S&P/ASX 200 index (8% weight).
The average basket level will be the average of the basket levels on each quarterly valuation date during the life of the notes.
If the average basket level is greater than the initial basket level, the payout at maturity will be par plus the increase in the average basket level.
If the average basket level is less than the initial basket level, the payout will be par.
The notes are guaranteed by Citigroup Inc.
Wells Fargo Securities and Citigroup Global Markets Inc. are the underwriters.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Market-linked notes with upside participation, quarterly averaging and principal return at maturity
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| Underlying indexes: | Euro Stoxx 50 index (60% weight), Topix index (12% weight), FTSE 100 index (10% weight), Swiss Market index (10% weight) and S&P/ASX 200 index (8% weight)
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| Amount: | $719,000
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| Maturity: | Feb. 5, 2029
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If average basket level is greater than initial basket level, par plus increase in average basket level; if average basket level is less than initial basket level, par
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| Initial index levels: | 3,481.44 for Stoxx, 1,808.78 for Topix, 6,407.46 for FTSE, 10,591.06 for Swiss Market, 6,607.357 for S&P/ASX
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| Average basket level: | Average of the basket levels on each quarterly valuation date during the life of the notes
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| Pricing date: | Jan. 29
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| Settlement date: | Feb. 3
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| Underwriters: | Wells Fargo Securities and Citigroup Global Markets Inc.
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| Fees: | 3.62%
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| Cusip: | 17328YEM2
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