Published on 3/23/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $7.13 million autocallable securities on FTSE, S&P
By Kiku Steinfeld
Chicago, March 23 – Citigroup Global Markets Holdings Inc. priced $7.13 million of 0% autocallable securities due March 13, 2026 linked to the FTSE 100 index and the S&P 500 index, 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 its initial level on any quarterly valuation date, the notes will be called at par plus an annualized 9.75% premium.
If each index finishes at or above its initial level, the payout at maturity will be par plus the 48.75% premium for the final valuation date.
If the least-performing index falls but not below its barrier level, 75% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the least-performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying indexes: | FTSE 100 index, S&P 500 index
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| Amount: | $7,125,000
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| Maturity: | March 13, 2026
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If each index finishes above initial level, par plus 48.75%; if least-performing index declines but finishes at or above final barrier level, par; otherwise, 1% loss for each 1% decline of the least-performing index
|
| Call: | Automatically at par plus an annualized premium of 9.75% if each index closes at or above its initial level on any quarterly valuation date
|
| Initial levels: | 3,898.81 for S&P, 6,725.60 for FTSE
|
| Barrier levels: | 2,924.108 for S&P, 5,044.200 for FTSE, 75% of initial levels
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| Pricing date: | March 10
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| Settlement date: | March 15
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.6%
|
| Cusip: | 17328YZ23
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