Published on 11/1/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.52 million autocallable securities on S&P, Russell, Nasdaq
Chicago, Nov. 1 – Citigroup Global Markets Holdings Inc. priced $1.52 million of 0% autocallable securities due March 31, 2026 tied to the worst performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 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 its initial level, on any annual call date, the notes will be called at par plus a yearly premium of 8%.
If each index finishes at or above 95% of its initial value, the payout at maturity will be par plus 40%.
If the least performing index finishes below 95% of its initial value but above the 70% final barrier value, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
|
| Amount: | $1,522,000
|
| Maturity: | March 31, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above 95% of its initial level, par plus 40%; if the least performing index finishes below 95% of its initial level but not below its final barrier level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level
|
| Call/premium threshold: | If each index closes at or above its initial level on any annual call date, par plus 8% per year
|
| Initial levels: | 2,221.482 for Russell, 3,974.54 for S&P, 12,979.12 for Nasdaq
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| Trigger levels: | 2,110.408 for Russell, 3,775.813 for S&P; 12,330.164 for Nasdaq, 95% of initial levels
|
| Final barrier levels: | 1,555.037 for Russell, 2,782.178 for S&P; 9,085.384 for Nasdaq, 70% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4.125%
|
| Cusip: | 17328YXG4
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