Published on 1/11/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $725,000 callable contingent coupon equity notes on Dow, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Jan. 11 – Citigroup Global Markets Holdings Inc. priced $725,000 of callable contingent coupon equity-linked securities due Jan. 12, 2026 linked to the worst performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent quarter coupon at an annualized rate of 8.5% if each index closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any quarter valuation date.
If the notes are not redeemed early, the payout will be par plus any coupon unless any index finishes below 60% of its initial level, in which case investors will lose 1% for every 1% that the least performing index declines.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average
|
| Amount: | $725,000
|
| Maturity: | Jan. 12, 2026
|
| Contingent coupon: | 8.5% per year, payable quarter if each index closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any index finishes below 60% of its initial level, in which case investors will lose 1% for every 1% that the least performing index declines
|
| Call option: | In whole at par plus any coupon due on any quarter valuation date
|
| Initial levels: | 2,096.885 for Russell, 31,041.13 for Dow, 12,939.57 for Nasdaq
|
| Coupon barriers: | 1,467.820 for Russell, 21,728.791 for Dow, 9,057.699 for Nasdaq, 70% of initial levels
|
| Barrier levels: | 1,258.131 for Russell, 18,624.678 for Dow, 7,763.742 for Nasdaq, 60% of initial levels
|
| Pricing date: | Jan. 7
|
| Settlement date: | Jan. 12
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.6%
|
| Cusip: | 17328YCG7
|
|
|
© 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.
