Published on 3/7/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $29,000 autocallable securities on Dow, S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, March 8 – Citigroup Global Markets Holdings Inc. priced $29,000 of 0% autocallable securities due Feb. 24, 2026 linked to the Nasdaq-100 index, the S&P 500 index and the Dow Jones industrial average, 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 annual valuation date, the notes will be called at par plus a premium of 9.35% per year.
If each index finishes at or above its initial level, the payout at maturity will be par plus the 46.75% premium for the final valuation date.
If the least-performing index falls but not below its barrier level, 70% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the least-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: | Nasdaq-100, S&P 500, Dow Jones industrial average
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| Amount: | $29,000
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| Maturity: | Feb. 24, 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 46.75%; 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 from its initial level
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| Call: | Automatically at par plus a premium of 9.35% per year if each index closes at or above its initial level on any annual valuation date
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| Initial levels: | 31,494.32 for Dow, 3,906.71 S&P, 13,580.78 for Nasdaq
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| Barrier levels: | 22,046.024 for Dow, 2,734.697 for S&P, 9,506.546 for Nasdaq, 70% of initial levels
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| Pricing date: | Feb. 19
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| Settlement date: | Feb. 24
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17328YXS8
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