Published on 6/9/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $5.72 million trigger step securities linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, June 9 – Citigroup Global Markets Holdings Inc. priced $5.72 million of 0% trigger step securities due May 19, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the least-performing index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the least-performing index return and the step return of 24%.
Investors will receive par if the least-performing index declines by 25% or less and will be exposed to the least-performing index’s decline from its initial level if it declines beyond 25%.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Trigger step securities
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $5,718,500
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Maturity: | May 19, 2025
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If least-performing index return is zero or positive, par plus greater of 24% and return; par if least-performing index declines by up to 25%; full exposure to loss if least-performing index falls beyond 25%
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Initial levels: | 2,224.63 for Russell, 4,173.85 for S&P
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Downside threshold: | 1,668.473 Russell, 3,130.39 for S&P, 75% of initial level
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Pricing date: | May 14
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Settlement date: | May 19
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Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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Fees: | 3%
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Cusip: | 17329D372
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