Published on 5/11/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $999,000 autocallable barrier securities on Dow, Nasdaq, Russell
By William Gullotti
Buffalo, N.Y., May 11 – Citigroup Global Markets Holdings Inc. priced $999,000 of 0% autocallable barrier securities due April 12, 2024 linked to the worst performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically redeemed at par plus an annualized 8.4% premium if all indexes finish above their initial levels on any semiannual call observation date.
If the notes are not called and all indexes close above their initial levels, the payout at maturity will be par plus the return of the least performing index.
If the worst performer declines but finishes above 70% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable barrier securities
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index, Russell 2000 index
|
| Amount: | $999,000
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| Maturity: | April 12, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If all indexes finish positive, par plus return of worst performer; par if at least one index declines but worst performer finishes above barrier level; otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing index
|
| Call: | At par plus annualized premium of 8.4% if each index finishes above initial level on any semiannual call observation date
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| Initial levels: | 33,800.6 for Dow, 13,845.05 for Nasdaq, 2,243.474 for Russell
|
| Trigger levels: | 23,660.42 for Dow, 9,691.535 for Nasdaq, 1,570.432 for Russell; 70% of initial levels
|
| Pricing date: | April 9
|
| Settlement date: | April 14
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.95%
|
| Cusip: | 17329FFW9
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