Published on 5/12/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $520,000 callable contingent coupon notes on Nasdaq, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, May 12 – Citigroup Global Markets Holdings Inc. sold $520,000 of callable contingent coupon securities due May 1, 2025 tied to the worst performing of the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 7.7% per year if each index closes at or above its coupon threshold level, 70% of its initial level, on the related determination date.
The notes will be callable at par on any quarterly call observation date after six months.
The payout at maturity will be par unless any index finishes below its 70% downside threshold, in which case investors will be fully exposed to the performance of the least performing index.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $520,000
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| Maturity: | May 1, 2025
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| Coupon: | 7.7% per year, payable quarterly if each index closes at or above its coupon threshold level on the related determination date
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| Price: | Par
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| Call option: | At par on any quarterly call observation date after six months
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| Payout at maturity: | Par unless any index finishes below its downside threshold, in which case investors will be fully exposed to the performance of the least performing index
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| Initial levels: | 14,026.16 for Nasdaq, 2,298.007 for Russell, 33,981.57 for Dow
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| Coupon barrier levels: | 9,818.312 for Nasdaq, 1,608.605 for Russell, 23,787.099 for Dow; 70% of initial levels
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| Trigger levels: | 9,818.312 for Nasdaq, 1,608.605 for Russell, 23,787.099 for Dow; 70% of initial levels
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| Pricing date: | April 26
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| Settlement date: | April 29
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17329FD76
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