Published on 8/12/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $5.67 million 7.26% callable equity-linked notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 12 – Citigroup Global Markets Holdings Inc. priced $5.67 million of 7.26% callable equity-linked securities due Aug. 11, 2022 tied to the worst performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable monthly.
The notes will be callable on any monthly call date after six months.
If the notes are not called, the payout at maturity will be par unless any index finishes below its 70% downside threshold value, in which case investors will lose 1% for every 1% decline of the worst performing index.
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 equity-linked securities
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Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100
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Amount: | $5,671,000
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Maturity: | Aug. 11, 2022
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Coupon: | 7.26%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any index finishes below its downside threshold value, in which case investors will lose 1% for every 1% decline of the worst performing index
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Call option: | At par plus the coupon on any monthly call date after six months
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Initial levels: | 4,436.52 for S&P, 2,247.761 for Russell, 15,109.36for Nasdaq
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Knock-in levels: | 3,105.564 for S&P, 1,573.433 for Russell, 10,576.552 for Nasdaq; 70% of initial levels
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Pricing date: | Aug. 6
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Settlement date: | Aug. 11
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.28%
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Cusip: | 17329QHV5
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