Published on 12/12/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $744,000 contingent coupon autocalls on Russell, Semiconductor ETF
By Kiku Steinfeld
Chicago, Dec. 13 – Citigroup Global Markets Holdings Inc. priced $744,000 of autocallable contingent coupon equity-linked securities due Aug. 28, 2024 linked to the least performing of the VanEck Vectors Semiconductor ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each month, the notes pay a contingent coupon at the rate of 5% per year if each asset closes at or above its coupon buffer level, 85% of its initial level, on the observation date for that month.
The notes will be automatically called at par if each asset closes at or above its initial level on any monthly call observation date starting May 23, 2022.
The payout at maturity will be par unless any asset finishes below its buffer level, 85% of its initial level, in which case investors will lose 1% for every 1% decline of the least performing asset beyond 15%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying assets: | VanEck Vectors Semiconductor ETF and Russell 2000 index
|
| Amount: | $744,000
|
| Maturity: | Aug. 28, 2024
|
| Coupon: | Each month, notes pay contingent coupon at rate of 5% per year unless any asset closes below coupon buffer level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below its buffer level, in which case 1% loss for every 1% decline of the least performing asset beyond buffer
|
| Call: | Automatically at par if each asset closes at or above initial level on any monthly call observation date starting May 23, 2022
|
| Initial levels: | 2,327.855 for Russell, $305.26 for ETF
|
| Coupon buffer levels: | 1,978.677 for Russell, $259.471 for ETF; 85% of initial levels
|
| Final buffer levels: | 1,978.677 for Russell, $259.471 for ETF; 85% % of initial levels
|
| Pricing date: | Nov. 23
|
| Settlement date: | Nov. 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3%
|
| Cusip: | 17329UEU1
|
|
|
|
|
© 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.
