Published on 6/18/2021 in the Prospect News Structured Products Daily.
New Issue: Citi prices $4.87 million contingent income callable notes on Russell, S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, June 18 – Citigroup Global Markets Holdings Inc. priced $4.87 million of contingent income callable securities due June 14, 2024 linked to the worst performing of the Nasdaq-100 index, 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.
Each quarter, the notes pay a contingent coupon at an annual rate of 5.6% if each index closes at or above its coupon barrier level, 70% of its initial index level, on any day that period.
The notes are callable at par on any quarterly contingent coupon payment date.
If each index finishes at or above its downside threshold level, 60% of its initial level, the payout at maturity will be par plus the final contingent coupon.
If the final level of any index is less than its downside threshold level, investors will be fully exposed to the decline of the least-performing index.
Citigroup Global Markets Inc. is the underwriter with Morgan Stanley Wealth Management as dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Contingent income callable securities
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
|
| Amount: | $4.87 million
|
| Maturity: | June 14, 2024
|
| Coupon: | 5.6% per year, payable for each quarter that each index closes at or above coupon barrier on every day that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold, par plus final contingent coupon; if final level of any index is less than downside threshold level, full exposure to decline of lowest-performing index
|
| Call option: | At par on any quarterly contingent coupon payment date
|
| Initial levels: | 4,247.44 for S&P, 2,335.808 for Russell, 13,988.3 for Nasdaq
|
| Coupon barriers: | 2,973.208 for S&P, 1,635.066 for Russell, 9,798.81 for Nasdaq; 70% of initial levels
|
| Downside thresholds: | 2,548.464 for S&P, 1,401.485 for Russell, 8,398.98 for Nasdaq; 60% of initial levels
|
| Pricing date: | June 11
|
| Settlement date: | June 16
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 1.75%
|
| Cusip: | 17329FYZ1
|
|
|
© 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.
