Published on 11/1/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.56 million autocallable contingent coupon equity notes on Russell, S&P
Chicago, Nov. 1 – Citigroup Global Markets Holdings Inc. priced $1.56 million of autocallable contingent coupon equity-linked securities due April 1, 2024 linked to the worst performing of 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.
The notes will pay a contingent quarterly coupon at an annual rate of 6.85% if each index closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any quarterly valuation date after one year.
The payout at maturity will be par unless either index finishes below 70% of its initial level, in which case investors will lose 1% for every 1% decline of the worst performer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying indexes: | S&P 500 index, Russell 2000 index
|
| Amount: | $1,561,000
|
| Maturity: | April 1, 2024
|
| Coupon: | 6.85% annualized rate, payable quarterly if each index closes at or above coupon barrier level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below final barrier level, in which case 1% loss for every 1% decline of worst performer
|
| Call: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly valuation date after one year
|
| Initial levels: | 3,974.54 for S&P, 2,221.482 for Russell
|
| Coupon barrier levels: | 2,782.178 for S&P, 1,555.037 for Russell; 70% of initial levels
|
| Final barrier levels: | 2,782.178 for S&P, 1,555.037 for Russell; 70% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.95%
|
| Cusip: | 17329F7A6
|
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