Published on 11/24/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $8.17 million autocallable equity-linked securities on Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Nov. 24 – Citigroup Global Markets Holdings Inc. priced $8.17 million autocallable equity-linked securities due Jan. 24, 2023 tied to the worst performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable quarterly at an annual rate of 5.83%.
The notes will be automatically called at par plus coupon if each index finishes above their initial level on any quarterly redemption date after six months.
If each index finishes at or above their downside threshold, 80% of initial level, the payout at maturity will be par.
Otherwise, investors will lose 1.212121% for every 1% decline of the worst performer below 17.5%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable equity-linked securities
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index
|
| Amount: | $8,165,000
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| Maturity: | Jan. 24, 2023
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| Coupon: | 5.83%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, investors will lose 1.212121% for every 1% decline of the lesser-performing index beyond 17.5%
|
| Call: | Automatically at par plus coupon if each index finishes above initial level on any quarterly redemption date after six months
|
| Initial index levels: | 16,482.97 for Nasdaq, 2,363.589 for Russell
|
| Downside threshold: | 13,598.45 for Nasdaq, 1,949.961 for Russell; 82.5% of initial levels
|
| Strike date: | Nov. 18
|
| Pricing date: | Nov. 19
|
| Settlement date: | Nov. 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0%
|
| Cusip: | 17329UED9
|
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