Published on 4/9/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $500,000 autocallable securities on S&P, Russell, Dow
By Kiku Steinfeld
Chicago, April 9 – Citigroup Global Markets Holdings Inc. priced $500,000 million of 0% autocallable securities due March 27, 2026 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 100% of its initial level on any quarterly valuation date after one year, the notes will be called at par plus a premium of 10.75% a year.
If each index finishes at or above its initial level, the payout at maturity will be par plus 53.75%.
If the least performing index finishes below its initial level but not below the barrier level, 70% 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: | $500,000
|
| Maturity: | March 27, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above its initial level, par plus 53.75%; if the least performing index finishes below 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 100% of its initial level on any quarterly valuation date after one year, at par plus a premium of 10.75% a year
|
| Initial levels: | 32,420.06 for Dow, 2,134.266 for Russell, 3,889.14 for S&P
|
| Final barriers: | 22,694.042 for Dow, 1,493.986 for Russell, 2,722.398 for S&P, 70% of initial levels
|
| Pricing date: | March 24
|
| Settlement date: | March 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.55%
|
| Cusip: | 17329F2J2
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
