Published on 3/27/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.75 million barrier securities on Russell, Dow, Nasdaq
By Kiku Steinfeld
Chicago, March 29 – Citigroup Global Markets Holdings Inc. priced $1.75 million of 0% barrier securities due March 16, 2026 linked to the least performing of the Russell 2000 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final level of each index return is positive or flat, the payout at maturity will be par plus 175% of the least performing index return.
The payout will be par if the final level of each index is less than its initial level but greater than or equal to the barrier level, 70% of the initial level.
If any index finishes below the barrier level, investors will be fully exposed to the 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: | Barrier securities
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index
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| Amount: | $1,748,000
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| Maturity: | March 16, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index return is positive, par plus 175% of the least performing index return; par if final level of least performing index is less than initial level but greater than or equal to barrier level; full exposure to decline if least performing index finishes below barrier level
|
| Initial levels: | 13,052.90 for Nasdaq, 2,338.542 for Russell, 32,485.59 for Dow
|
| Barrier levels: | 9,137.030 for Nasdaq, 1,636.979 for Russell, 22,739.913 for Dow; 70% of initial levels
|
| Pricing date: | March 11
|
| Settlement date: | March 16
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.125%
|
| Cusip: | 17328YZ56
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