Published on 8/21/2021 in the Prospect News Structured Products Daily.
New Issue: Citi prices $2.62 million callable contingent coupon equity notes on Goldman, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Aug. 23 – Citigroup Global Markets Holdings Inc. priced $2.62 million of callable contingent coupon equity-linked securities due June 20, 2025 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the shares of Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon at the rate of 8.25% per year if each asset closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that period.
The notes are callable at par on any quarterly call observation date starting Dec. 17.
The payout at maturity will be par unless any asset finishes below 50% of its initial level, in which case investors will be exposed to the decline of the worst performing asset.
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: | Russell 2000 index, Nasdaq-100 index and Goldman Sachs Group, Inc.
|
| Amount: | $2,617,000
|
| Maturity: | June 20, 2025
|
| Coupon: | 8.25% per year, paid quarterly, unless any asset closes below coupon barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below its barrier level, in which case 1% loss for every 1% decline of the least performing asset
|
| Call: | At par on any quarterly call observation date starting Dec. 17
|
| Initial levels: | $361.50 for Goldman, 2,287.46 for Russell, 14,163.81 for Nasdaq
|
| Coupon barrier levels: | $253.05 for Goldman, 1,601.222 for Russell, 9,914.667 for Nasdaq; 70% of initial levels
|
| Final barrier levels: | $180.75 for Goldman, 1,143.73 for Russell, 7,081.905 for Nasdaq; 50% of initial levels
|
| Pricing date: | June 17
|
| Settlement date: | June 22
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.75%
|
| Cusip: | 17329FXA7
|
|
|
© 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.
