Published on 2/24/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3.78 million autocallable securities on S&P, Dow
By William Gullotti
Buffalo, N.Y., Feb. 24 – Citigroup Global Markets Holdings Inc. priced $3.78 million of 0% autocallable securities due Feb. 23, 2027 tied to the S&P 500 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 of its initial level on any annual valuation date, the notes will be called at par plus an annual premium of 10.1%.
If each index finishes at or above its initial level, the payout at maturity will be par plus 50.5%.
If the least performing index finishes below its initial level but not below the barrier level, 70% of the initial level, 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
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| Underlying indexes: | S&P 500 index, Dow Jones industrial average
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| Amount: | $3,775,000
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| Maturity: | Feb. 23, 2027
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus 50.5%; if the least performing index finishes below its initial level but not below the barrier level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level
|
| 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 annual premium of 10.1%
|
| Initial levels: | 34,079.18 for Dow, 4,348.87 for S&P
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| Barrier levels: | 23,855.426 for Dow, 3,044.209 for S&P; 70% of initial levels
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| Pricing date: | Feb. 18
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| Settlement date: | Feb. 24
|
| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | None
|
| Cusip: | 17330AU91
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