Published on 2/6/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $853,000 autocallable securities on Nasdaq, Russell, S&P
By Taylor Fox
New York, Feb. 8 – Citigroup Global Markets Holdings Inc. priced $853,000 of 0% autocallable securities due Jan. 9, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 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 a premium of 8.65% per year if the least-performing index finishes at or above its initial level on any semiannual valuation date.
If all the indexes finish at or above their initial levels, the payout at maturity will be par plus the premium due.
If any index finishes below its initial level but each index finishes at or above its barrier level, 70% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the least-performing index 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 securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $853,000
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| Maturity: | Jan. 9, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all indexes finish at or above their initial levels, par plus the premium due; if the least-performing index finishes below its initial level but at or above its final barrier level, par; otherwise, 1% loss for each 1% decline of the least-performing index from its initial level
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| Call: | At par plus 8.65% per year if all indexes finish at or above initial levels on any semiannual valuation date
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| Initial levels: | 12,694.66 for Nasdaq, 1,945.914 for Russell and 3,700.65 for S&P
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| Final barrier levels: | 8,886.262 for Nasdaq, 1,362.14 for Russell and 2,590.455 for S&P, 70% of initial levels
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| Pricing date: | Jan. 4
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| Settlement date: | Jan. 7
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.95%
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| Cusip: | 17328YE91
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