Published on 4/29/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $28.44 million autocallable contingent coupon equity notes on ETFs
By Wendy Van Sickle
Columbus, Ohio, April 29 – Citigroup Global Markets Holdings Inc. priced $28.44 million of autocallable contingent coupon equity-linked securities due April 27, 2023 linked to the worst performing of the Technology Select Sector SPDR fund, the VanEck Vectors Semiconductor exchange-traded fund and the SPDR S&P Regional Banking ETF, 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 11.43% if each asset closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that period.
The notes will be called at par on any quarterly call valuation date.
If the notes are not called, the payout at maturity will be par unless any asset finishes below 70% of its initial price, in which case 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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying assets: | Technology Select Sector SPDR fund, VanEck Vectors Semiconductor ETF and SPDR S&P Regional Banking ETF
|
| Amount: | $28,438,000
|
| Maturity: | April 27, 2023
|
| Coupon: | 11.43% annualized rate, payable quarterly if each asset closes at or above coupon barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below knock-in level, in which investors will be fully exposed to the decline of the least-performing asset
|
| Call: | At par plus coupon if each asset closes at or above initial level on any quarterly call valuation date
|
| Initial share prices: | $142.70 for Technology, $67.85 for SPDR S&P Regional Banking, $249.20 for VanEck Vectors Semiconductor
|
| Coupon barrier levels: | $99.89 for Technology, $47.495 for SPDR S&P Regional Banking, $174.44 for VanEck Vectors Semiconductor; 70% of initial levels
|
| Knock-in levels: | $99.89 for Technology, $47.495 for SPDR S&P Regional Banking, $174.44 for VanEck Vectors Semiconductor; 70% of initial levels
|
| Pricing date: | April 23
|
| Settlement date: | April 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17329FLC6
|
© 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.
