Published on 3/25/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.65 million autocallable securities on Dow, Russell, Nasdaq
By Kiku Steinfeld
Chicago, March 25 – Citigroup Global Markets Holdings Inc. priced $2.65 million of 0% autocallable securities due March 21, 2024 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, 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 semiannual valuation date after one year, the notes will be called at par plus a premium of 13% per year.
If each index finishes at or above its initial level, the payout at maturity will be par plus the 39% premium for the final valuation date.
If the least-performing index falls but not below its barrier level, 70% of the 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, Russell 2000, Dow Jones industrial average
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| Amount: | $2,646,000
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| Maturity: | March 21, 2024
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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 39% maturity date premium; 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 from its initial level
|
| Call: | Automatically at par plus a premium of 13% per year if each index closes at or above its initial level on any semiannual valuation date after one year
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| Initial levels: | 32,825.95 for Dow, 2,319.518 for Russell, 13,152.28 for Nasdaq
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| Barrier levels: | 22,978.165 for Dow, 1,623.663 for Russell, 9,206.596 for Nasdaq, 70% of initial levels
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| Pricing date: | March 16
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| Settlement date: | March 19
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.95%
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| Cusip: | 17328YZB3
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