Published on 8/28/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1 million dual directional barrier securities on two indexes
By Kiku Steinfeld
Chicago, Aug. 30 – Citigroup Global Markets Holdings Inc. priced $1 million of 0% dual directional barrier securities due April 4, 2024 linked to the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the worst performing index finishes at or above its initial level, the payout at maturity will be par plus the return of the least performing index, capped at 20.3%.
If the worst performing index falls by up to 25%, the payout will be par plus the absolute value of the return of the worst performing index.
Otherwise, investors will be fully exposed to the decline of the least performing index.
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: | Dual directional barrier securities
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| Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $1 million
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| Maturity: | April 4, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the worst performing index finishes at or above its initial level, par plus the return of the least performing index, capped at 20.3%; if the worst performing index falls by up to barrier level, par plus absolute value of the return of the worst performing index; otherwise, full exposure to decline of the least performing index
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| Initial levels: | 34,502.51 for Dow, 14,554.80 for Nasdaq
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| Barrier levels: | 25,876.883 for Dow, 10,916.100 for Nasdaq; 75% of initial levels
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17329Q2A7
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