Published on 4/3/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $985,000 barrier digital plus notes on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, April 5 – Citigroup Global Markets Holdings Inc. priced $985,000 of 0% barrier digital plus securities due March 17, 2026 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the least-performing index is greater than or equal to its initial level, the payout at maturity will be par plus the greater of the least-performing index’s return and 35%.
If the final level of the least-performing index is less than its initial level but greater than or equal to its barrier value, 70% of its initial level, the payout will be par.
If the final level of the least-performing index is less than its barrier value, investors will be exposed to the decline of the least-performing index from its initial level.
The notes will be guaranteed by Citigroup Inc.
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 digital plus securities
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
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| Amount: | $985,000
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| Maturity: | March 17, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of least-performing index is greater than or equal to initial level, par plus greater of least-performing index’s return and 35%; if final level of least-performing index is less than initial level but greater than or equal to barrier value, par; if final level of least-performing index is less than barrier value, exposure to decline of least-performing index from initial level
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| Initial levels: | 3,943.34 for S&P, 2,352.789 for Russell, 12,937.29 for Nasdaq
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| Coupon barriers: | 2,760.338 for S&P, 1,646.952 for Russell, 9,056.103 for Nasdaq; 70% of initial levels
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| Final barriers: | 2,760.338 for S&P, 1,646.952 for Russell, 9,056.103 for Nasdaq; 70% of initial levels
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| Pricing date: | March 12
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| Settlement date: | March 17
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17328YYJ7
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