Published on 10/29/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.48 million autocallable securities on Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., Oct. 29 – Citigroup Global Markets Holdings Inc. priced $1.48 million of 0% autocallable securities due Aug. 1, 2024 tied to the Russell 2000 index 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 index closes at or above of its initial level on any annual valuation date, the notes will be called at par plus an annualized call premium of 5%.
If each index finishes at or above its initial, the payout at maturity will be par plus the return of the lesser performing index.
If either index declines but each finish at or above the 85% buffer level, the payout at maturity will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index beyond 15%.
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 indexes: | Russell 2000 index, Nasdaq-100 index
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| Amount: | $1,481,000
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| Maturity: | Aug. 1, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus the return of the lesser performing index; if any index declines by up to 15%, par; otherwise, investors will lose 1% for each 1% decline of the worst performing index below the buffer
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| Call: | If each index closes at or above its initial level on any annual valuation date, the notes will be called at par plus an annualized call premium of 5%
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| Initial levels: | 14,956.97 for Nasdaq, 2,191.833 for Russell
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| Buffer levels: | 12,713.425 for Nasdaq, 1,863.058 for Russell; 85% of initial levels
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| Pricing date: | July 27
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| Settlement date: | July 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.2%
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| Cusip: | 17329QX39
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