Published on 5/3/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $500,000 contingent coupon autocalls on Dow, Russell, Nasdaq
Chicago, May 3 – Citigroup Global Markets Holdings Inc. priced $500,000 of autocallable contingent coupon equity-linked securities due March 22, 2024 linked to the least performing of the Dow Jones industrial average, 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.
The notes will pay a contingent quarterly coupon at an annual rate of 5% if each index closes at or above its 85% coupon barrier value on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly call review date.
The payout at maturity will be par unless any index finishes below its 85% final buffer level, in which case investors will be exposed to the decline of the worst performing index beyond the 15% buffer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Global Markets Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
|
| Amount: | $500,000
|
| Maturity: | March 22, 2024
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| Coupon: | 5% annualized, payable quarterly if each index closes at or above coupon barrier on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above final buffer level, par; otherwise, 1% loss for each 1% decline of worst performing index beyond buffer
|
| Call: | At par if each index closes at or above its initial level on any quarterly call review date
|
| Initial levels: | 32,627.97 for Dow, 2,287.545 for Russell, 12,866.99 Nasdaq
|
| Coupon barriers: | 27,733.775 for Dow, 1,944.413 for Russell, 10,936.942 for Nasdaq; 85% of initial levels
|
| Final buffer levels: | 27,733.775 for Dow, 1,944.413 for Russell, 10,936.942 for Nasdaq; 85% of initial levels
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| Pricing date: | March 19
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| Settlement date: | March 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Cusip: | 17329F4H4
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