Published on 9/14/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $3.08 million autocallable contingent coupon equity notes on Nasdaq, Russell
By William Gullotti
Buffalo, N.Y., Sept. 14 – Citigroup Global Markets Holdings Inc. priced $3.08 million of autocallable contingent coupon equity-linked securities due Sept. 29, 2022 linked to the worst performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annual rate of 6.25% if each index closes at or above the coupon barrier level, 80% of the initial level, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level, on any monthly valuation date after six months.
If the notes are not called and each index finishes at or above final barrier level, 80% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond the buffer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index
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| Amount: | $3,076,000
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| Maturity: | Sept. 29, 2022
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| Coupon: | 6.25% annualized rate, payable monthly if each index closes at or above coupon barrier level, on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each index closes at or above final barrier; otherwise, investors will lose 1% for every 1% decline of the worst performer beyond the buffer
|
| Call: | Automatically at par plus coupon if each index closes at or above initial level on any monthly valuation date after six months
|
| Initial levels: | 2,334.396 for Russell, 14,345.18 for Nasdaq
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| Coupon barrier levels: | 1,867.517 for Russell, 11,476.144 for Nasdaq; 80% of initial levels
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| Final barrier levels: | 1,867.517 for Russell, 11,476.144 for Nasdaq; 80% of initial levels
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.25%
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| Cusip: | 17329FEJ9
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