Published on 12/20/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $5 million callable contingent coupon equity notes on Stoxx, Russell, ETF
By Wendy Van Sickle
Columbus, Ohio, Dec. 20 – Citigroup Global Markets Holdings Inc. priced $5 million of callable contingent coupon equity linked securities due Dec. 11, 2025 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent monthly coupon at an annualized rate of 9.3% if each underlying asset closes at or above its coupon barrier level, 75% of its initial price, on any observation date for that period.
The notes will be callable in whole at par on any quarterly observation date.
If each asset finishes at or above its barrier level, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
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 contingent coupon equity linked securities
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| Underlying assets: | Euro Stoxx 50 index, Russell 2000 index, iShares MSCI Emerging Markets ETF
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| Amount: | $5 million
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| Maturity: | Dec. 11, 2025
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| Contingent coupon: | 9.3% per year, payable monthly if each underlying asset closes at or above coupon barrier level on any observation date for that period
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| Price: | Par
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| Payout at maturity: | If each asset finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing asset
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| Call option: | Callable at par on any quarterly observation date
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| Initial values: | 4,137.11 for Stoxx, 2,203.479 for Russell, $49.30 for ETF
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| Coupon barriers: | 3,102.833 for Stoxx, 1,652.609 for Russell, $36.975 for ETF, 75% of initial levels
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| Barriers: | 2,895.977 for Stoxx, 1,542.435 for Russell, $34.51 for ETF, 70% of initial levels
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| Pricing date: | Dec. 6
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| Settlement date: | Dec. 9
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.35%
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| Cusip: | 17329US93
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