Published on 11/1/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.24 million autocallable securities on Dow, Russell
Chicago, Nov. 1 – Citigroup Global Markets Holdings Inc. priced $2.24 million of 0% autocallable securities due March 31, 2026 linked to the worst performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Global Markets Inc.
The notes will be called at par plus a premium of 5% per year if each asset closes at or above its initial level on any quarterly valuation date after one year.
If the notes are not called and the worst performing index closes at or above its initial value, the payout will be par plus 25%.
If the worst performing index falls but finishes at or above its 85% final buffer level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline beyond the 15% buffer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Autocallable securities
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index
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| Amount: | $2,236,000
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| Maturity: | March 31, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 25% if worst performing index finishes at or above initial level; par if worst performing index falls but finishes at or above its final buffer level; otherwise, 1% loss for each 1% decline beyond the buffer
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| Call: | At par plus 5% per year if each asset closes at or above its initial value on any quarterly valuation date after one year
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| Initial values: | 33,072.88 for Dow, 2,221.482 for Russell
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| Final buffer levels: | 28,111.948 for Dow, 1,888.260 for Russell; 85% of initial values
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| Pricing date: | March 26
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| Settlement date: | March 31
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.1%
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| Cusip: | 17328YU93
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