Published on 9/27/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $615,000 autocallable securities on Emerging Markets ETF, Nasdaq-100
By William Gullotti
Buffalo, N.Y., Sept. 27 – Citigroup Global Markets Holdings Inc. priced $615,000 of 0% autocallable securities due July 10, 2026 tied to the iShares MSCI Emerging Markets ETF and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each underlier closes at or above of its initial level on any semiannual valuation date after one year, the notes will be called at par plus an annualized call premium of 8%.
If each underlier finishes at or above its 95% trigger level, the payout at maturity will be par plus 40%.
If the least performing underlier finishes below its trigger level but not below the barrier level, 65% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performer 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: | Autocallable securities
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| Underlying assets: | iShares MSCI Emerging Markets ETF, Nasdaq-100 index
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| Amount: | $615,000
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| Maturity: | July 10, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each underlier finishes at or above its trigger level, par plus 40%; if the least performing underlier finishes below its trigger level but not below the barrier level, par; otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level
|
| Call: | If each underlier closes at or above its initial level on any semiannual valuation date after one year, the notes will be called at par plus an annualized call premium of 8%
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| Initial levels: | $53.76 for ETF, 14,810.54 for Nasdaq
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| Trigger levels: | $51.072 for ETF, 14,070.013 for Nasdaq; 95% of initial levels
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| Barrier levels: | $34.944 for ETF, 9,626.851 for Nasdaq; 65% of initial levels
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| Pricing date: | July 7
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| Settlement date: | July 12
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17329Q5B2
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