Published on 8/19/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.44 million barrier securities on Nasdaq, S&P, Dow
By William Gullotti
Buffalo, N.Y., Aug. 19 – Citigroup Global Markets Holdings Inc. priced $1.44 million of 0% barrier securities due May 14, 2026 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each index finishes at or above its initial level, payout will be par plus 1.165 times the return of the least-performing index.
If the least-performing index finishes below its initial level but at or above its final barrier level, 50% of its initial level, the payout at maturity will be par.
Otherwise, investors will lose 1% for each 1% decline of the least-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: | Barrier securities
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Underlying indexes: | Nasdaq-100 index, S&P 500 index, Dow Jones industrial average
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Amount: | $1,439,000
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Maturity: | May 14, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes above initial level, par plus 1.165 times the gain of the least-performing index; if any index finishes below its initial level but at or above its final barrier level, par; otherwise, 1% loss for each 1% decline of the least-performing index from its initial level
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Initial levels: | 13,351.27 for Nasdaq, 4,152.1 for S&P, 34,269.16 for Dow
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Final barrier levels: | 6,675.635 for Nasdaq, 2,076.05 for S&P, 17,134.58 for Dow; 50% of initial levels
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Pricing date: | May 11
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Settlement date: | May 14
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1.125%
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Cusip: | 17329FE67
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