Published on 11/9/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $6.1 million contingent market-linked autocalls on Dow, S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Nov. 9 – Citigroup Global Markets Holdings Inc. priced $6.1 million of market-linked autocallable securities with contingent coupon and contingent downside due July 29, 2025 linked to the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly interest payment at the rate of 5.45% per year if each index closes at or above the coupon barrier level, 70% of the initial share level, on the observation date for that period.
The notes will be automatically called at par plus coupon if each index closes at or above initial levels on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless the worst performer falls by more than 30%, in which case investors lose 1% for every 1% decline of that index from its initial level.
Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are the agents.
Issuer: | Citigroup Global Markets Holdings Inc.
|
Guarantor: | Citigroup Inc.
|
Issue: | Market-linked autocallable securities with contingent coupon and contingent downside
|
Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
|
Amount: | $6,099,000
|
Maturity: | July 29, 2025
|
Coupon: | 5.45% annual rate, payable quarterly if all indexes close at or above their coupon barrier levels on the relevant observation date
|
Price: | Par
|
Payout at maturity: | Par plus final coupon unless the worst performer falls by more than 30%, in which case full exposure to decline of that index from its initial level
|
Call: | Automatically at par plus coupon if each index closes at or above initial levels on any quarterly observation date after six months
|
Initial levels: | 4,419.15 for S&P, 2,240.029 for Russell, 35,084.53 for Dow
|
Coupon barriers: | 3,093.405 for S&P, 1,568.0203 for Russell, 24,559.171 for Dow; 70% of initial level
|
Threshold levels: | 3,093.405 for S&P, 1,568.0203 for Russell, 24,559.171 for Dow; 70% of initial level
|
Pricing date: | July 29
|
Settlement date: | Aug. 3
|
Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities, LLC
|
Fees: | 2.175%
|
Cusip: | 17329QXB1
|
|
|
|
© 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.