Published on 12/18/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $27.36 million contingent coupon autocalls on ETF, indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 18 – Citigroup Global Markets Holdings Inc. priced $27.36 million of autocallable contingent coupon equity-linked notes due Dec. 20, 2022 linked to the least performing of the Nasdaq-100 index, S&P 500 index and the SPDR S&P MidCap 400 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.3% if each asset closes at or above its 75% coupon barrier on the observation date for that period.
The notes will be called at par if each asset closes at or above its initial level on any quarterly autocall date.
The payout at maturity will be par unless any asset closes below its 75% knock-in level, in which case investors will be exposed to the loss 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: | Autocallable contingent coupon equity-linked notes
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| Underlying assets: | Nasdaq-100 index, S&P 500 index and SPDR S&P MidCap 400 ETF Trust
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| Amount: | $27,357,000
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| Maturity: | Dec. 20, 2022
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| Coupon: | 8.3% annualized, payable quarterly if each asset closes at or above coupon barrier on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any asset closes below its knock-in level, in which case investors will be fully exposed to loss of least performing asset
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| Call: | At par if each asset closes at or above its initial level on any quarterly call date
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| Initial prices: | 12,595.92 for Nasdaq, 3,694.62 for S&P 500, $417.69 for S&P ETF
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| Coupon barrier levels: | 9,446.94 for Nasdaq, 2,770.965 for S&P 500, $313.268 for S&P ETF; 75% of initial prices
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| Knock-in levels: | 9,446.94 for Nasdaq, 2,770.965 for S&P 500, $313.268 for S&P ETF; 75% of initial prices
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| Pricing date: | Dec. 15
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| Settlement date: | Dec. 21
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17328YDJ0
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