Published on 4/9/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.01 million barrier securities on S&P, Russell
Kiku Steinfeld
Chicago, April 9 – Citigroup Global Markets Holdings Inc. priced $1.01 million of 0% barrier securities due March 27, 2026 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final level of the worse performing index is greater than or equal to its initial level, the payout at maturity will be par plus 1.215 times the return of that index.
If the final level of the worse performing index is less than its initial level but greater than or equal to its 70% barrier level, the payout will be par.
If the final level of the worse performing index is less than the 70% barrier level, investors will be fully exposed to the decline of the worse performing index.
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: | Barrier securities
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $1,010,000
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| Maturity: | March 27, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final level of the worse performing index is greater than or equal to its initial level, par plus 1.215 times the return of that index; if the final level of the worse performing index is less than its initial level but greater than or equal to its 70% barrier level, par; otherwise, full exposure to the decline of the worse performing index
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| Initial levels: | 3,889.14 for S&P, 2,134.266 for Russell
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| Barrier levels: | 2,722.398 for S&P, 1,493.986 for Russell; 70% of initial levels
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| Pricing date: | March 24
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| Settlement date: | March 29
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17329FCG7
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