Published on 12/14/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $7.07 million 5% autocallable equity-linked notes on S&P, Russell
Chicago, Dec. 14 – Citigroup Global Markets Holdings Inc. priced $7.07 million of 5% autocallable equity-linked securities due Oct. 5, 2022 tied to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable semiannually.
The notes will be automatically called at par plus the coupon if both indexes close above their initial levels on Sept. 30, 2021 or on March 31, 2022.
If both indexes finish at or above 80% downside threshold levels, the payout will be par.
Otherwise, investors will lose 1.25% for every 1% decline of the lesser-performing index beyond the buffer.
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 equity-linked securities
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $7,071,000
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Maturity: | Oct. 5, 2022
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Coupon: | 8%, payable semiannually
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Price: | Par
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Call: | Automatically called at par plus coupon if both indexes finish above initial levels on Sept. 30, 2021 or on March 31, 2022
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Payout at maturity: | Par if both indexes finish above downside threshold level; otherwise, 1.25% loss for each 1% decline beyond 20% buffer
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Initial index levels: | 3,958.55 for S&P and 2,195.796 for Russell
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Downside threshold levels: | 3,166.840 for S&P and 1,756.637 for Russell; 80% of initial levels
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Pricing date: | March 31
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Settlement date: | April 6
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.05%
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Cusip: | 17329F6T6
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