Published on 3/17/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.38 million autocallable securities on Dow, Russell, Nasdaq
By Taylor Fox
New York, March 17 – Citigroup Global Markets Holdings Inc. priced $2.38 million of 0% autocallable securities due March 8, 2024 linked to the Nasdaq-100 index, the Russell 2000 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 semiannual valuation date, the notes will be called at par plus a premium of 11.15% per year.
If each index finishes at or above its initial level, the payout at maturity will be par plus the 33.45% 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, Russell 2000 index, Dow Jones industrial average
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| Amount: | $2,378,000
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| Maturity: | March 8, 2024
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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 33.45%; 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 11.15% per year if each index closes at or above its initial level on any semiannual valuation date
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| Initial levels: | 31,496.3 for Dow, 2,192.212 for Russell, 12,668.51 for Nasdaq
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| Barrier levels: | 22,047.41 for Dow, 1,534.548 for Russell, 8,867.957 for Nasdaq, 70% of initial levels
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| Pricing date: | March 5
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| Settlement date: | March 10
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.95%
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| Cusip: | 17328YWX8
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