Published on 2/9/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1 million barrier securities on Russell, Nasdaq, S&P
By Wendy Van Sickle
Columbus, Ohio, Feb. 9 – Citigroup Global Markets Holdings Inc. priced $1 million of 0% barrier securities due Feb. 2, 2026 linked to the least performing of the Russell 2000 index, the Nasdaq-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 finishes at or above its initial level, payout will be par plus 180% of the return of the least-performing index.
If the least-performing index finishes below its initial level but at or above its final barrier level, 90% of its initial level, the payout at maturity 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: | Barrier securities
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
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| Amount: | $1 million
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| Maturity: | Feb. 2, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above initial level, par plus 180% of the gain of the least-performing index; if any index falls but not more than 10%, par; otherwise, 1% loss for each 1% decline of the least-performing index from its initial level
|
| Initial levels: | 2,108.696 for Russell, 13,112.65 for Nasdaq and 3,750.77 for S&P
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| Final barrier levels: | 1,897.826 for Russell, 11,801.3858 for Nasdaq and 3,375.693 for S&P, 90% of initial levels
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| Strike date: | Jan. 27
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| Pricing date: | Jan. 28
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| Settlement date: | Feb. 2
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17328YK29
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