Published on 8/4/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $10.22 million trigger PLUS linked to Stoxx, S&P index basket
By Wendy Van Sickle
Columbus, Ohio, Aug. 4 – Citigroup Global Markets Holdings Inc. priced $10.22 million of 0% trigger Performance Leveraged Upside Securities due Aug. 4, 2027 linked to an equally weighted basket of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup, Inc.
If the final index level is greater than or equal to the initial level, the payout at maturity will be par of $10 plus 150% of the basket return. If the basket declines by 25% or less, the payout will be par. If the basket declines by more than 25%, investors will lose 1% for every 1% that the basket declines from its initial level.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is a selected dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Trigger Performance Leveraged Upside Securities
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| Underlying indexes: | Euro Stoxx 50 index, S&P 500 index; 50% weight each
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| Amount: | $10,220,850
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| Maturity: | Aug. 4, 2027
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If final basket level is greater than initial level, par plus 150% of basket return; if final basket level is less than initial basket level but greater than or equal to trigger level, par; if final basket level is less than trigger level, 1% loss for every 1% that basket declines from initial level
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| Initial index levels: | 4,089.3 for Stoxx, 4,395.26 for S&P
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| Trigger level: | 75% of initial level
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| Pricing date: | July 30
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| Settlement date: | Aug. 4
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| Underwriter: | Citigroup Global Markets Inc.
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 3.5%
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| Cusip: | 17329L127
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