Published on 11/5/2020 in the Prospect News Structured Products Daily.
New Issue: Citi prices $2.25 million callable contingent coupon equity notes on MSCI EM, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Nov. 5 – Citigroup Global Markets Holdings Inc. priced $2.25 million of callable contingent coupon equity-linked securities due Nov. 1, 2022 linked to the least performing of the Russell 2000 index, the S&P 500 index and the MSCI Emerging Markets 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 the rate of 8.1% per year if each index closes at or above its coupon barrier level, 65% of its initial level, on the observation date for that period.
The notes are callable at par on any quarterly potential redemption date.
The payout at maturity will be par unless any index finishes below its barrier level, 65% of its initial level, in which case investors will lose 1% for every 1% decline of the least performing index.
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, S&P 500 index and MSCI Emerging Markets index
|
| Amount: | $2,252,000
|
| Maturity: | Nov. 1, 2022
|
| Coupon: | 8.1% per year, paid quarterly, unless any index closes below coupon barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its barrier level, in which case 1% loss for every 1% decline of the least performing index
|
| Call option: | At par on any quarterly potential redemption date
|
| Initial levels: | 1,133.99 for MSCI EM, 1,590.482 for Russell, 3,390.68 for S&P
|
| Coupon barrier levels: | 737.094 for MSCI EM, 1,033.813 for Russell, 2,203.942 for S&P; 65% of initial levels
|
| Final barrier levels: | 737.094 for MSCI EM, 1,033.813 for Russell, 2,203.942 for S&P; 65% of initial levels
|
| Pricing date: | Oct. 27
|
| Settlement date: | Oct. 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17328WRK6
|
|
|
© 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.
