Published on 4/22/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $567,000 autocallable securities on three ETFs
Chicago, April 22 – Citigroup Global Markets Holdings Inc. priced $567,000 of 0% autocallable securities due Oct. 2, 2024 linked to the worst performing of the Energy Select Sector SPDR fund, the Financial Select Sector SPDR fund and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
After six months, if each ETF closes at or above its initial level on any quarterly valuation date, the notes will be called at par plus a premium of 18.4% annual rate.
If the notes are not called and each ETF finishes at or above its initial level, the payout will be par plus the final premium value of 55.2%.
Investors will receive par if any ETF falls but none falls below its final barrier level, 75% of its initial level. Otherwise, investors will lose 1% for each 1% decline of the worst performing ETF.
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 ETFs: | Energy Select Sector SPDR fund, the Financial Select Sector SPDR fund and the Technology Select Sector SPDR fund
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| Amount: | $567,000
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| Maturity: | Oct. 2, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each ETF finishes at or above its initial level, par plus 55.2%; if any ETF falls but none below its final barrier, par; otherwise, 1% loss for each 1% decline of the worst performing ETF
|
| Call: | Automatically at par plus an annualized premium of 18.4% if each ETF closes at or above its initial level on any quarterly valuation date after six months
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| Initial levels: | $52.71 for Energy, $38.74 for Financial, $155.19 for Technology
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| Final barrier values: | $39.533 for Energy, $29.055 for Financial, $116.393 for Technology, or 75% of initial share prices
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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: | 2.75%
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| Cusip: | 17329QUA6
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