Published on 2/16/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.09 million callable contingent coupon equity notes on Nasdaq, S&P
By Kiku Steinfeld
Chicago, Feb. 16 – Citigroup Global Markets Holdings Inc. priced $1.09 million of callable contingent coupon equity-linked securities due Aug. 8, 2022 linked to the least performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at annual rate of 6.4% if each underlier closes at or above its coupon barrier, 50% of its initial level, on the observation date for that period.
The notes will be callable at par plus any coupon due on any quarterly call valuation date.
The payout at maturity will be par plus the final coupon unless any underlier finishes below its 50% barrier, in which case investors will lose 1% for each 1% decline of the worst performing underlier from its initial level.
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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| Underliers: | S&P 500 index, Nasdaq-100 index
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| Amount: | $1.09 million
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| Maturity: | Aug. 8, 2022
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| Coupon: | 6.4%, payable quarterly if each underlier closes at or above coupon barrier on related observation date
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| Price: | Par
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| Call option: | At par plus any coupon due on any quarterly call valuation date
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| Payout at maturity: | Par plus coupon if all indexes close above final barrier level; otherwise 1% loss for each 1% decline of worst performing underlier from initial level
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| Initial levels: | 3,830.17 for S&P, 13,402.37 for Nasdaq
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| Coupon barriers: | 1,915.085 for S&P, 1,915.085 for Nasdaq; 50% of initial levels
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| Final barrier values: | 1,915.085 for S&P, 1,915.085 for Nasdaq; 50% of initial levels
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| Pricing date: | Feb. 3
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| Settlement date: | Feb. 8
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.725%
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| Cusip: | 17328YW91
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