Published on 5/9/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $619,000 autocallable securities on Russell, Dow
By Kiku Steinfeld
Chicago, May 9 – Citigroup Global Markets Holdings Inc. priced $619,000 of 0% autocallable securities due Oct. 5, 2023 tied to the Russell 2000 index and the Dow Jones industrial average, 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 Oct. 3, 2022, the notes will be called at par plus 9.5%.
If the worst performer closes at or above of its initial level, the payout at maturity will be par plus 19%. If the least performing index declines but finishes at or above its 75% barrier level, the payout will be par. Otherwise, investors will be exposed to the decline of the least performing index.
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, Dow Jones industrial average
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| Amount: | $619,000
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| Maturity: | Oct. 5, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index closes at or above its initial level, par plus 19%; if least performing index declines but finishes at or above its barrier level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing index
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| Call: | If each index closes at or above its initial level on Oct. 3, 2022, the notes will be called at par plus 9.5%
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| Initial levels: | 33,843.92 for Dow, 2,204.372 for Russell
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| Barrier levels: | 25,382.940 for Dow, 1,653.279 for Russell; 75% of initial levels
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| Pricing date: | Sept. 30, 2021
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| Settlement date: | Oct. 5, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.8%
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| Cusip: | 17329QGQ7
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