Published on 6/16/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $977,000 dual directional barrier securities on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, June 16 – Citigroup Global Markets Holdings Inc. priced $977,000 of 0% dual directional barrier securities due May 22, 2026 linked to the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the worst performing index finishes at or above its initial level, the payout at maturity will be par plus 118% of the return of the least performing index.
If the worst performing index falls by up to 40%, the payout will be par plus 50% of the absolute value of the return of the worst performing index.
Otherwise, 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: | Dual directional barrier securities
|
| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
|
| Amount: | $977,000
|
| Maturity: | May 22, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the worst performing index finishes at or above its initial level, par plus 118% of the return of the least performing index; if the worst performing index falls but finishes at or above its barrier level, par plus 50% of the absolute value of the return of the worst performing index; otherwise, 1% loss for every 1% decline of the least performing index
|
| Initial levels: | 4,115.68 for S&P, 2,193.642 for Russell, 13,237.91 for Nasdaq
|
| Barrier levels: | 2,469.408 for S&P, 1,316.185 for Russell, 7,942.746 for Nasdaq; 60% of initial levels
|
| Pricing date: | May 19
|
| Settlement date: | May 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.125%
|
| Cusip: | 17329FMK7
|
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