Published on 5/31/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.29 million autocallable securities on indexes, ETF
Chicago, May 31 – Citigroup Global Markets Holdings Inc. priced $1.29 million of 0% autocallable securities due May 14, 2024 linked to the worst performing of the Euro Stoxx 50 index, the S&P 500 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Citigroup will call the notes at par plus a call premium of 9.75%per year if the closing level of each asset is greater than or equal to its initial level on any quarterly call date starting after one year.
If each asset finishes at or above its initial index level, the payout at maturity will be par plus 24.375%.
Investors will receive par if the final level of any asset is less than its initial level but each asset finishes at or above the final barrier level, 70% of its initial level.
Otherwise, investors will be fully exposed to the decline of the worst performing asset.
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 assets: | Euro Stoxx 50 index, S&P 500 index, iShares MSCI Emerging Markets ETF
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| Amount: | $1,285,000
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| Maturity: | May 14, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 24.375% if each asset finishes at or above initial level; par if any asset finishes below initial level, but each asset finishes at or above final barrier level; otherwise, full exposure to loss of least performing asset
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| Call: | Automatically at par plus annualized premium of 9.75% if each asset closes at or above initial level on any quarterly call date starting after one year
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| Initial levels: | $51.19 for ETF, 4,344.63 for Stoxx, 4,685.25 for S&P
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| Final barrier levels: | $35.833 for ETF, 3,041.241 for Stoxx, 3,279.675 for S&P; 70% of initial levels
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| Pricing date: | Nov. 9, 2021
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| Settlement date: | Nov. 15, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.95%
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| Cusip: | 17329UKT7
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