Published on 6/12/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $7.06 million enhanced barrier digital securities on Russell, S&P
By Kiku Steinfeld
Chicago, June 14 – Citigroup Global Markets Holdings Inc. priced $7.06 million of 0% enhanced barrier digital securities due May 22, 2025 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 will be guaranteed by Citigroup Inc.
If the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus 30%.
If any index falls by up to 30%, the payout will be par plus 12%.
If any index falls by more than 30%, the payout will be par plus the return of the worst performing index with full exposure to losses.
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: | Enhanced barrier digital securities
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Underlying indexes: | S&P 500 index, Russell 2000 index
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Amount: | $7,063,000
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Maturity: | May 22, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final level of each index is greater than its initial level, par plus 30%; if any index falls by up to 30%, par plus 12%; if any index falls by more than 30%, par plus the return of the worst performing index with full exposure to losses
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Initial levels: | 4,127.83 for S&P, 2,210.877 for Russell
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Barrier levels: | 2,889.481 for S&P, 1,547.614 for Russell; 70% of initial levels
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Pricing date: | May 18
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Settlement date: | May 21
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1.6%
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Cusip: | 17329FMW1
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