Published on 2/17/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1 million callable contingent coupon securities on indexes, ETF
By Taylor Fox
New York, Feb. 17 – Citigroup Global Markets Holdings Inc. priced $1 million of callable contingent coupon equity-linked securities due Jan. 30, 2023 linked to the least performing of the Nasdaq-100 index, the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes have a quarterly coupon at an annual rate of 7.3%, if the least-performing asset for that quarter finishes at or above its coupon barrier value, 70% of its initial value.
The notes may be called at par plus any contingent coupon due by the issuer on any quarterly call valuation date.
If each asset finishes at or above its barrier value, 60% of its initial value, payout will be par plus the final coupon.
Otherwise, investors will lose 1% for each 1% decline of the least-performing asset from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying assets: | Nasdaq-100 index, Euro Stoxx 50 index and iShares MSCI EAFE ETF
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| Amount: | $1 million
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| Maturity: | Jan. 30, 2023
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| Coupon: | 7.3% annual rate, paid quarterly if each asset finishes at or above its coupon barrier value
|
| Price: | Par
|
| Payout at maturity: | If each asset finishes at or above final barrier value, par plus the final coupon; otherwise, 1% loss for each 1% decline of the least-performing asset from its initial level
|
| Call: | At par plus any coupon due on any quarterly call valuation date
|
| Initial values: | 3,553.14 for Stoxx, $75.06 for ETF and 13,483.29 for Nasdaq
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| Coupon barrier levels: | 2,487.198 for Stoxx, $52.542 for ETF and 9,438.303 for Nasdaq, 70% of initial values
|
| Barrier levels: | 2,131.884 for Stoxx, $45.036 for ETF and 8,089.974 for Nasdaq, 60% of initial values
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 28
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.25%
|
| Cusip: | 17328YL36
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