Published on 10/7/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.06 million barrier securities on Dow, S&P, Nasdaq
By Kiku Steinfeld
Chicago, Oct. 7 – Citigroup Global Markets Holdings Inc. priced $1.06 million of 0% barrier securities due July 14, 2026 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If each index finishes above its initial level, the payout will be par plus the return of the least-performing index.
If the least-performing index finishes flat or declines but finishes at or above its barrier level, 54% of its initial level, the payout at maturity will be par.
Otherwise, investors will lose 1% for each 1% decline of the least-performing index 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: | Barrier securities
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| Underlying indexes: | Dow Jones industrial average, S&P 500 index, Nasdaq-100 index
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| Amount: | $1,056,000
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| Maturity: | July 14, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above its initial level, par plus the gain of the least-performing index; if the least-performing index finishes flat or declines but finishes at or above its barrier level, par; otherwise, 1% loss for each 1% decline of the least-performing index from its initial level
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| Initial levels: | 34,870.16 for Dow, 4,369.55 for S&P, 14,826.09 for Nasdaq
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| Final barrier levels: | 18,829.886 for Dow, 2,359.557 for S&P, 8,006.089 for Nasdaq; 54% of initial levels
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| Pricing date: | July 9
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| Settlement date: | July 14
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17329Q3B4
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