Published on 10/11/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.56 million of market-linked securities on Dow, Russell, S&P
By William Gullotti
Buffalo, N.Y., Oct. 12 – Citigroup Global Markets Holdings Inc. priced $2.56 million of 0% market-linked securities with leveraged upside participation and contingent downside due Oct. 4, 2024 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If all assets finish above their initial levels, the payout at maturity will be par plus 1.31 times the return of the worst-performing asset.
If any asset finishes below its initial level but the worst performer finishes above 75% of its initial level, the payout will be par.
Otherwise, investors will have full downside exposure to the return of the worst performer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Market-linked securities – leveraged upside participation and contingent downside
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $2,555,000
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| Maturity: | Oct. 4, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.31 times return of worst performer if all finish above initial levels; par if worst performer declines by up to 25%; otherwise, full exposure to decline of worst performer from its initial level
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| Initial levels: | 4,359.46 for S&P, 2,225.308 for Russell, 34,390.72 for Dow
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| Threshold levels: | 3,269.595 for S&P, 1,668.981 for Russell, 25,793.04 for Dow; 75% of initial levels
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 4
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| Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities, LLC
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| Fees: | 2.74%
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| Cusip: | 17329QSP6
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