Published on 7/28/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $679,000 autocallable securities linked to Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., July 28 – Citigroup Global Markets Holdings Inc. priced $679,000 of 0% autocallable securities due July 27, 2026 tied to 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 4.2%.
If each index finishes at or above its initial level, the payout at maturity will be par plus 21%.
If the least performing index finishes below its initial level but not below the buffer level, 85% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index below the buffer.
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: | Russell 2000 index, Nasdaq-100 index
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Amount: | $679,000
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Maturity: | July 27, 2026
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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 21%; if the least performing index finishes below its initial level but not below the buffer level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing index below 15%
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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 4.2%
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Initial levels: | 14,940.17 for Nasdaq, 2,199.475 for Russell
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Buffers: | 12,699.145 for Nasdaq, 1,869.554 for Russell; 85% of initial levels
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Pricing date: | July 22
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Settlement date: | July 27
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 4.125%
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Cusip: | 17329QFP0
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