Published on 9/20/2021 in the Prospect News Structured Products Daily.
New Issue: Citi prices $3.7 million callable contingent coupon equity notes on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Sept. 20 – Citigroup Global Markets Holdings Inc. priced $3.7 million of callable contingent coupon equity-linked securities due July 5, 2024 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon at the rate of 8.25% per year if each index closes at or above its coupon barrier level, 75% of its initial level, on each day of that quarterly observation period.
The notes are callable at par on any quarterly call observation date.
The payout at maturity will be par unless any index finishes below 75% of its initial level, in which case investors will be exposed to the decline of the worst performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying indexes: | Russell 2000 index, S&P 500 index and Nasdaq-100 index
|
| Amount: | $3,704,000
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| Maturity: | July 5, 2024
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| Coupon: | 8.25% per year, paid quarterly, unless any index closes below coupon barrier level on any day of the related observation period
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its final barrier level, in which case 1% loss for every 1% decline of the least performing index
|
| Call: | At par on any quarterly call observation date
|
| Initial levels: | 2,310.549 for Russell, 14,554.80 for Nasdaq, 4,297.50 for S&P
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| Coupon barrier levels: | 1,732.912 for Russell, 10,916.100 for Nasdaq, 3,223.125 for S&P; 75% of initial levels
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| Final barrier levels: | 1,732.912 for Russell, 10,916.100 for Nasdaq, 3,223.125 for S&P; 75% of initial levels
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17329FYB4
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