Published on 8/26/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3.09 million autocallable securities on Nasdaq, Russell, Dow
By William Gullotti
Buffalo, N.Y., Aug. 26 – Citigroup Global Markets Holdings Inc. priced $3.09 million of 0% autocallable securities due June 29, 2026 tied to the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, 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 call level on any annual valuation date, the notes will be called at par plus an annualized call premium of 8.85%. Call level starts at 102% of initial level for the first annual evaluation date and increases by 2% per year until maturity.
If each index finishes at or above 110% of its initial level, the payout at maturity will be par plus 44.25%.
If the least performing index finishes below 110% of 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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
|
| Amount: | $3,089,000
|
| Maturity: | June 29, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above 110% of its initial level, par plus 44.25%; if the least performing index finishes below 110% of 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 call level on any annual valuation date, the notes will be called at par plus an annualized call premium of 8.85%; call level starts at 102% of initial level for the first annual evaluation date and increases by 2% per year until maturity
|
| Initial levels: | 34,196.82 for Dow, 2,333.622 for Russell, 14,365.96 for Nasdaq
|
| Barriers: | 23,937.774 for Dow, 1,633.535 for Russell, 10,056.172 for Nasdaq; 70% of initial levels
|
| Pricing date: | June 24
|
| Settlement date: | June 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4.125%
|
| Cusip: | 17329FSM7
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
