Published on 2/17/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3 million autocallable securities on Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Feb. 17 – Citigroup Global Markets Holdings Inc. priced $3 million of 0% autocallable securities due Aug. 4, 2022 linked to the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If each index closes at or above its call level on any semiannual valuation date, the notes will be called at par plus a premium of 11.3% a year. The call level is 95% of the initial level on Aug. 2, 2021 and 90% of the initial level on Feb. 1, 2022.
If each index finishes at or above 80% of its initial level, the payout will be par plus 16.95%. If the least performing index falls but not below the buffer level, 80% of the initial level, the payout will be par.
Otherwise, investors will lose 1.25% for each 1% decline of the worst performing index beyond 80%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | Russell 2000, Nasdaq-100
|
| Amount: | $3,003,000
|
| Maturity: | Aug. 4, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above 80% of its initial level, par plus 16.95%; if any index falls but not below buffer level, par; otherwise, 1.25% loss for each 1% decline of the worst performing index beyond 20%
|
| Call: | Automatically at par plus an annualized premium of 11.3% if each index closes at or above its call level on any semiannual valuation date
|
| Initial levels: | 12,925.38 for Nasdaq, 2,073.641 for Russell
|
| Buffer levels: | 10,340.304 for Nasdaq, 1,658.913 for Russell; 80% of initial levels
|
| Call levels: | 95% of initial levels on Aug. 2, 2021, 90% of initial levels on Feb. 1, 2022
|
| Pricing date: | Feb. 1
|
| Settlement date: | Feb. 4
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.05%
|
| Cusip: | 17328YLE2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
