Published on 10/12/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $2.52 million callable contingent coupon equity notes on S&P, Russell, Dow
By Kiku Steinfeld
Chicago, Oct. 12 – Citigroup Global Markets Holdings Inc. priced $2.52 million of callable contingent coupon equity-linked securities due July 28, 2027 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent semiannual coupon at an annualized rate of 4.3% if each index closes at or above its coupon barrier level, 60% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any semiannual call valuation date.
Unless the worst performer finishes below its 60% final barrier, the payout at maturity will be par, in which case investors will lose 1% for every 1% decline of the worst performer from its initial level.
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, Dow Jones industrial average index, S&P 500 index
|
| Amount: | $2,521,000
|
| Maturity: | July 28, 2027
|
| Contingent coupon: | 4.3% per year, payable semiannually if each index closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless worst performer finishes below its final barrier, in which case 1% loss for every 1% decline of worst performer from its initial level
|
| Call option: | In whole at par plus any coupon due on any semiannual call valuation date
|
| Initial levels: | 35,061.55 for Dow, 4,411.79 for S&P, 2,209.649 for Russell
|
| Coupon barrier levels: | 21,036.930 for Dow, 2,647.074 for S&P, 1,325.789 for Russell; 60% of initial levels
|
| Barrier levels: | 21,036.930 for Dow, 2,647.074 for S&P, 1,325.789 for Russell; 60% of initial levels
|
| Pricing date: | July 23
|
| Settlement date: | July 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17329Q3G3
|
|
|
© 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.
