Published on 4/15/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $856,000 autocallable securities on Russell, Dow
By Kiku Steinfeld
Chicago, April 18 – Citigroup Global Markets Holdings Inc. priced $856,000 of 0% autocallable securities due Oct. 1, 2026 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 85% of its initial level on any quarterly valuation date after one year, the notes will be called at par plus an annualized premium of 4%.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 20%.
If the worst performing index finishes below its initial level but at or above its buffer level, 85% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index beyond the 15% buffer.
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, Dow Jones industrial average
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| Amount: | $856,000
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| Maturity: | Oct. 1, 2026
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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 20%; if worst performing index finishes below its initial level but at or above its buffer level, par; otherwise, 1% loss for each 1% decline of the worst performing index beyond buffer
|
| Call: | If each index closes at or above 85% of initial level on any quarterly valuation date after one year, the notes will be called at par plus an annualized premium of 4%
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| Initial levels: | 2,281.003 for Russell, 34,869.37 for Dow
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| Buffer levels: | 1,938.853 for Russell, 29,638.965 for Dow; 85% of initial levels
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| Pricing date: | Sept. 27, 2021
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| Settlement date: | Sept. 30, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17329QQR4
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