Published on 3/21/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.15 million callable contingent coupon notes on three indexes
Chicago, March 22 – Citigroup Global Markets Holdings Inc. priced $3.15 million of callable contingent coupon equity-linked securities due Feb. 3, 2026 linked to the worst performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annual rate of 7.25% if each index closes at or above its coupon barrier level, 65% of its initial level, on the related observation date.
The notes will be callable at par plus any coupon on any quarterly observation date after one year.
If the notes are not called and each index finishes at or above its downside threshold level, 65% of its initial level, the payout at maturity will be par plus any coupon. Otherwise, investors will lose 1% for every 1% decline of the least-performing index.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
|
| Amount: | $3,150,000
|
| Maturity: | Feb. 3, 2026
|
| Coupon: | 7.25% per year, payable monthly if each index closes at or above its coupon barrier level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any index finishes below downside threshold level, in which case 1% loss for every 1% decline of worst performing index
|
| Call option: | At par plus any coupon on any quarterly observation date after one year
|
| Initial levels: | 29,982.62 for Dow, 2,073.641 for Russell, 3,714.24 for S&P
|
| Coupon barrier levels: | 19,488.703 for Dow, 1,347.867 for Russell, 2,414.256 for S&P; 65% of initial levels
|
| Downside thresholds: | 19,488.703 for Dow, 1,347.867 for Russell, 2,414.256 for S&P; 65% of initial levels
|
| Pricing date: | Jan. 29
|
| Settlement date: | Feb. 3
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.75%
|
| Cusip: | 17328YKV5
|
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