Published on 3/28/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $500,000 callable contingent coupon equity notes on ETF, indexes
Chicago, March 29 – Citigroup Global Markets Holdings Inc. priced $500,000 of callable contingent coupon equity-linked securities due Dec. 1, 2022 linked to the worst performing of the iShares Russell 2000 Value ETF, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent monthly coupon at an annualized rate of 8.05% if each asset closes at or above its coupon barrier level, 75% of its initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any monthly valuation date after three months.
If the notes are not redeemed early, the payout will be par plus the final coupon unless any asset finishes below 60% of its initial level, in which case investors will lose 1% for every 1% that the least performing asset declines.
Citigroup Global Markets Inc.is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying assets: | iShares Russell 2000 Value ETF, Nasdaq-100 index and Russell 2000 index
|
| Amount: | $500,000
|
| Maturity: | Dec. 1, 2022
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| Contingent coupon: | 8.05% per year, payable monthly if each asset closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any asset finishes below 60% of its initial level, in which case investors will lose 1% for every 1% that the least performing asset declines
|
| Call option: | In whole at par plus any coupon due on any monthly valuation date after three months
|
| Initial levels: | $151.60 for ETF, 2,201.051 for Russell, 12,909.44 for Nasdaq
|
| Coupon barriers: | $113.700 for ETF, 1,650.788 for Russell, 9,682.080 for Nasdaq; 75% of initial levels
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| Barrier levels: | $90.960 for ETF, 1,320.631 for Russell, 7,745.664 for Nasdaq; 60% of initial levels
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| Pricing date: | Feb. 26
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| Settlement date: | March 3
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.1%
|
| Cusip: | 17328YRA4
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