Published on 2/10/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.56 million callable contingent coupon securities on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 10 – Citigroup Global Markets Holdings Inc. priced $1.56 million of 0% callable contingent coupon equity-linked securities due Aug. 1, 2022 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, 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 9.9% per annum on a monthly basis if the least-performing index closes at or above its coupon barrier level, 60% of its initial level, on the valuation date for that period.
The notes may be called at par plus any coupon due at the issuer’s option on any quarterly call valuation date.
If all the indexes finish above their initial level or no indexes ever close below their knock-in levels, 60% of their initial levels, any day during the life of the notes, the payout at maturity will be par.
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: | Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average
|
| Amount: | $1.56 million
|
| Maturity: | Aug. 1, 2022
|
| Coupon: | 9.9% per annum on a monthly basis if the least-performing index closes at or above its coupon barrier value for that period
|
| Price: | Par
|
| Payout at maturity: | If all the indexes finish above initial levels or no index ever closes below knock-level during life of notes, par; 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 call valuation date
|
| Initial levels: | 2,108.696 for Russell, 13,112.65 for Nasdaq and 30,303.17 for Dow
|
| Coupon barrier levels: | 1,265.218 for Russell, 7,867.59 for Nasdaq and 18,181.902 for Dow, 60% of initial levels
|
| Knock-in levels: | 1,265.218 for Russell, 7,867.59 for Nasdaq and 18,181.902 for Dow, 60% of initial levels
|
| Pricing date: | Jan. 27
|
| Settlement date: | Feb. 1
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.725%
|
| Cusip: | 17328YPS7
|
|
|
© 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.
