Published on 10/7/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $800,000 enhanced barrier digital notes linked to three funds
By Wendy Van Sickle
Columbus, Ohio, Oct. 7 – Citigroup Global Markets Holdings Inc. priced $800,000 of 0% enhanced barrier digital securities due July 26, 2022 linked to the least performing of the Energy Select Sector SPDR fund, the Industrial Select Sector SPDR fund and the Materials Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the least-performing ETF is greater than or equal to its digital barrier level, 85% of its initial level, the payout at maturity will be par plus 15.5%. If the final level of the least-performing ETF is less than its digital barrier level, but greater than its final barrier level, 80% of its initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the least-performing underlying declines from its initial level.
The notes are guaranteed by Citigroup Inc.
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: | Enhanced barrier digital securities
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| Underliers: | Energy Select Sector SPDR fund, Industrial Select Sector SPDR fund and Materials Select Sector SPDR fund
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| Amount: | $800,000
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| Maturity: | July 26, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of least-performing underlying is greater than or equal to digital barrier level, par plus 15.5%; if final level of least-performing underlying is less than digital barrier level but not less than final barrier level, par; otherwise, 1% loss for every 1% that least-performing underlying declines from initial level
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| Initial levels: | $47.59 for Energy, $102.57 for Industrial and $80.25 for Materials
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| Digital barrier levels: | $40.452 for Energy, $387.185 for Industrial and $68.213 for Materials, or 85% of initial levels
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| Final barrier levels: | $38.072 for Energy, $82.056 for Industrial and $64.20 for Materials, or 80% of initial levels
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| Pricing date: | July 20
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| Settlement date: | July 23
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
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| Cusip: | 17329QFL9
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