Published on 7/22/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $928,000 autocallable securities on S&P, Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., July 22 – Citigroup Global Markets Holdings Inc. priced $928,000 of 0% autocallable securities due July 18, 2024 tied to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, 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 initial level on any annual valuation date, the notes will be called at par plus an annual premium of 9.7%.
If each index finishes at or above its initial level, the payout at maturity will be par plus 29.1%.
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.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $928,000
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| Maturity: | July 18, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus 29.1%; 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 its initial level on any annual valuation date, the notes will be called at par plus an annual premium of 9.7%
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| Initial levels: | 14,794.69 for Nasdaq, 2,190.293 for Russell, 4,360.03 for S&P
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| Barriers: | 10,356.283 for Nasdaq, 1,533.205 for Russell, 3,052.021 for S&P; 70% of initial levels
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| Pricing date: | July 15
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| Settlement date: | July 20
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.95%
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| Cusip: | 17329QLQ1
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