Published on 11/12/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $943,000 autocallable barrier securities on indexes, ETF
By William Gullotti
Buffalo, N.Y., Nov. 12 – Citigroup Global Markets Holdings Inc. priced $943,000 of 0% autocallable barrier securities due Aug. 1, 2024 linked to the lesser performing of the Financial Select Sector SPDR Fund, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be called at par plus an annualized call premium of 9.45% if each underlier closes at or above its initial level on any semiannual call date.
If the final level of each underlier is greater than or equal to its initial level, the payout at maturity will be par plus the gain of the least performing underlier.
If the worst performer declines but finishes at or above its final barrier level, 70% of initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
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 barrier securities
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| Underlying assets: | Financial Select Sector SPDR Fund, Nasdaq-100 index, S&P 500 index
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| Amount: | $943,000
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| Maturity: | Aug. 1, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each underlier finishes at or above its initial level, par plus the gain of the least performing underlier; if the worst performer declines but finishes at or above final barrier, par; otherwise, full exposure to decline of worst performer from its initial level
|
| Call: | At par plus 9.45% annualized call premium of if each underlier closes at or above initial level on any semiannual call date
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| Initial levels: | $36.81 for ETF, 15,048.36 for Nasdaq, 4,419.15 for S&P
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| Final barrier levels: | $25.767 for ETF, 10,533.852 for Nasdaq, 3,093.405 for S&P; 70% of initial levels
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| Pricing date: | July 29
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| Settlement date: | Aug. 3
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.95%
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| Cusip: | 17329QF70
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