Published on 12/23/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.76 million contingent market-linked autocalls on indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 23 – Citigroup Global Markets Holdings Inc. priced $1.76 million of market-linked securities due Nov. 30, 2026 – autocallable with contingent coupon and contingent downside linked to the worst performing of the Euro Stoxx 50 index, the S&P 500 index and the S&P 500 index, 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 8% if each asset closes at or above its 75% coupon threshold on the observation date for that quarter.
The notes will be called at par plus coupon if each asset closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless any asset finishes below its 75% barrier value, in which case the payout will be par plus the return of the worst performing asset with full exposure to any losses.
Wells Fargo Securities, LLC and Citigroup Global Markets Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
|
| Underlying assets: | Euro Stoxx 50 index, S&P 500 index, Russell 2000 index
|
| Amount: | $1,759,000
|
| Maturity: | Nov. 30, 2026
|
| Coupon: | 8% annualized, payable quarterly if each asset closes at or above coupon threshold on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below downside threshold, in which case 1% loss per 1% decline of worst performing asset
|
| Call: | At par plus coupon if each asset closes at or above its initial level on any observation date after one year
|
| Initial levels: | 4,655.27 for S&P, 2,241.976 for Russell, 4,109.51 for Stoxx
|
| Coupon threshold levels: | 3,491.4525 for S&P, 1,681.482 for Russell, 3,082.1325 for Stoxx; 75% of initial levels
|
| Downside threshold levels: | 3,491.4525 for S&P, 1,681.482 for Russell, 3,082.1325 for Stoxx; 75% of initial levels
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 2
|
| Agents: | Wells Fargo Securities, LLC and Citigroup Global Markets Inc.
|
| Fees: | 2.625%
|
| Cusip: | 17329U6A4
|
|
|
© 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.
