Published on 3/21/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.37 million autocallable securities on S&P, Russell, Dow
Chicago, March 22 – Citigroup Global Markets Holdings Inc. priced $2.37 million of 0% autocallable securities due Feb. 5, 2027 tied to the S&P 500 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 of its call level on any semiannual valuation date, the notes will be called at par plus a premium at an annualized rate of 9%. The call level for each index will be 92% of its initial level.
If each index finishes at or above its 92% of its initial level, the payout at maturity will be par plus 54%.
If the least performing index finishes below 92% of its initial level but not below the barrier 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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | S&P 500, Russell 2000, Dow Jones industrial average
|
| Amount: | $2,367,000
|
| Maturity: | Feb. 5, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above 92% of its initial level, par plus 54%; if the least performing index finishes below 92% of its initial level but not below the barrier level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level
|
| Call: | If each index closes at or above its call level on any semiannual valuation date, the notes will be called at par plus a premium of 9% a year; call level for each index will be 92% of its initial level
|
| Initial levels: | 29,982.62 for Dow, 2,073.641 for Russell, 3,714.24 for S&P
|
| Final barriers: | 22,486.965 for Dow, 1,555.231 for Russell, 2,785.680 for S&P, 75% of initial levels
|
| Pricing date: | Jan. 29
|
| Settlement date: | Feb. 5
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0%
|
| Cusip: | 17328YKL7
|
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