Published on 3/31/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $10.17 million autocallable securities on Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, March 31 – Citigroup Global Markets Holdings Inc. priced $10.17 million of 0% autocallable securities due April 2, 2026 linked to the worst performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each index closes at or above its initial level on any quarterly valuation date, the notes will be called at par plus an annualized 10% premium.
If each index finishes at or above its initial level, the payout at maturity will be par plus the 50% premium for the final valuation date.
If the least-performing index falls but not below its barrier level, 75% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the least-performing index.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Autocallable securities
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Underlying indexes: | Russell 2000 index, Euro Stoxx 50 index
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Amount: | $10,172,000
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Maturity: | April 2, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes above initial level, par plus 50%; if least-performing index declines but finishes at or above final barrier level, par; otherwise, 1% loss for each 1% decline of the least-performing index
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Call: | Automatically at par plus an annualized premium of 10% if each index closes at or above its initial level on any quarterly valuation date
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Initial levels: | 3,882.87 for Stoxx, 2,158.682 for Russell
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Barrier levels: | 2,912.153 for Stoxx, 1,619.012 for Russell, 75% of initial levels
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Pricing date: | March 29
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Settlement date: | March 31
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 2.85%
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Cusip: | 17329F4B7
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