Published on 2/16/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $530,000 autocallable securities on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Feb. 16 – Citigroup Global Markets Holdings Inc. priced $530,000 of 0% autocallable securities due Aug. 5, 2026 linked to the Russell 2000 index and the S&P 500, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
After one year, if each index closes at or above its initial level on any semiannual valuation date, the notes will be called at par plus a premium of 10.7% a year.
If each index finishes at or above its initial level the payout will be par plus 58.85%. If the least performing index falls but not below the trigger level, 75% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
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, S&P 500
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| Amount: | $530,000
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| Maturity: | Aug. 5, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level par plus 58.85%; if any index falls but not below trigger level, par; otherwise, 1% loss for each 1% decline of the worst performing index from its initial level
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| Call: | Automatically at par plus an annualized premium of 10.7% if each index closes at or above its initial level on any semiannual valuation date after one year
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| Initial levels: | 3,714.24 for S&P, 2,073.641 for Russell
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| Trigger levels: | 2,785.68 for S&P, 1,555.231 for Russell; 75% of initial levels
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| Pricing date: | Jan. 29
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| Settlement date: | Feb. 5
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0%
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| Cusip: | 17328YKP8
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