Published on 9/27/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $17.17 million autocallable buffered PLUS tied to Dow, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Sept. 27 – Citigroup Global Markets Holdings Inc. priced $17.17 million of 0% buffered Performance Leveraged Upside Securities with autocallable feature due Sept. 21, 2023 linked to the worst performing of the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If each index closes at or above its initial level on Sept. 26, 2022, the notes will be called at par plus a 7.5% premium.
If the notes are not called and each index finishes above the initial level, the payout at maturity will be par plus 105% of the gain of the worst performing index.
If any index falls by up to 10%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index beyond the 10% buffer.
Citigroup Global Markets Inc. is the agent with Morgan Stanley Wealth Management as dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Buffered Performance Leveraged Upside Securities with autocallable feature
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| Underlying indexes: | Nasdaq-100, Dow Jones industrial average
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| Amount: | $17,174,270
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| Maturity: | Sept. 21, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index gains, par plus 105% of return of worse performing index; if either index falls by up to 10%, par; otherwise, 1% loss for each 1% decline beyond buffer
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| Call: | Automatically at par plus a 7.5% premium if each index closes at or above its initial level on Sept. 26, 2022
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| Initial levels: | 34,584.88 for Dow, 15,333.47 for Nasdaq
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| Buffer levels: | 31,126.392 for Dow, 13,800.123 for Nasdaq, 90% of initial levels
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| Pricing date: | Sept. 17
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| Settlement date: | Sept. 22
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| Agent: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management as dealer
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| Fees: | 1.79375%
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| Cusip: | 17329L820
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