Published on 12/30/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $25.29 million callable contingent coupon equity notes on S&P, Russell, ETF
By Wendy Van Sickle
Columbus, Ohio, Dec. 30 – Citigroup Global Markets Holdings Inc. priced $25.29 million of callable contingent coupon equity linked securities due June 22, 2026 linked to the least performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 10.61% if each underlying asset closes at or above its coupon barrier level, 80% of its initial price, on every day that period.
The notes will be callable in whole at par on any quarterly observation date after six months.
The payout at maturity will be par unless any asset finishes below its barrier level, 60% of its initial level, in which case investors will be fully exposed to the decline of the least-performing asset.
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: | S&P 500 index, Russell 2000 index, iShares MSCI EAFE ETF
|
| Amount: | $25.29 million
|
| Maturity: | June 22, 2026
|
| Contingent coupon: | 10.61% per year, payable quarterly if each underlying asset closes at or above coupon barrier level on every trading day that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below barrier level, in which case full exposure to decline of least-performing asset
|
| Call option: | Callable at par on any quarterly observation date after six months
|
| Initial values: | 4,668.67 for S&P, 2,152.455 for Russell, $77.63 for ETF
|
| Coupon barriers: | 3,734.936 for S&P, 1,721.964 for Russell, $62.104 for ETF, 80% of initial levels
|
| Barrier levels: | 2,801.202 for S&P, 1,291.473 for Russell, $46.578 for ETF, 60% of initial levels
|
| Pricing date: | Dec. 16
|
| Settlement date: | Dec. 21
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17329UN56
|
|
|
© 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.
