Published on 6/20/2021 in the Prospect News Structured Products Daily.
New Issue: Citi prices $995,000 callable contingent coupon equity notes on Russell, S&P
By Kiku Steinfeld
Chicago, June 21 – Citigroup Global Markets Holdings Inc. priced $995,000 of callable contingent coupon equity-linked securities due May 27, 2026 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each month, the notes pay a contingent coupon at the rate of 4.4% per year if each index closes at or above its coupon barrier level, 85% of its initial level, on the observation date for that period.
The notes are callable at par on any quarterly potential redemption date after one year.
The payout at maturity will be par unless any index finishes below its buffer level, 85% of its initial level, in which case investors will lose 1% for every 1% decline of the least performing index beyond 15%.
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, S&P 500 index
|
| Amount: | $995,000
|
| Maturity: | May 27, 2026
|
| Coupon: | 4.4% per year, paid monthly, unless any index closes below coupon barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its barrier level, in which case 1% loss for every 1% decline of the least performing index beyond 15%
|
| Call option: | At par on any quarterly potential redemption date after one year
|
| Initial levels: | 2,215.268 for Russell, 4,155.86 for S&P
|
| Coupon barrier levels: | 1,882.978 for Russell, 3,532.481 for S&P; 85% of initial levels
|
| Final buffer levels: | 1,882.978 for Russell, 3,532.481 for S&P; 85% of initial levels
|
| Pricing date: | May 21
|
| Settlement date: | May 26
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.25%
|
| Cusip: | 17329FHD9
|
|
|
© 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.
