Published on 7/12/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.86 million autocallable securities on S&P, Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., July 12 – Citigroup Global Markets Holdings Inc. priced $1.86 million of 0% autocallable securities due May 29, 2026 tied to 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.
The notes will be guaranteed by Citigroup Inc.
If each index closes at or above of its initial level on any annual valuation date, the notes will be called at par plus an annual premium of 7%.
If each index finishes at or above its trigger level, 95% of initial levels, the payout at maturity will be par plus 35%.
If the least performing index finishes below its trigger level but not below the barrier level, 70% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
|
| Amount: | $1,864,000
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| Maturity: | May 29, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above its trigger level, par plus 35%; if the least performing index finishes below its trigger level but not below the barrier level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level
|
| Call: | If each index closes at or above its initial level on any annual valuation date, the notes will be called at par plus an annual premium of 7%
|
| Initial levels: | 13,657.73 for Nasdaq, 2,205.75 for Russell, 4,188.13 for S&P
|
| Trigger levels: | 12,974.844 for Nasdaq, 2,095.463 for Russell, 3,978.724 for S&P; 95% of initial levels
|
| Barriers: | 9,560.411 for Nasdaq, 1,544.025 for Russell, 2,931.691 for S&P; 70% of initial levels
|
| Pricing date: | May 25
|
| Settlement date: | May 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4.125%
|
| Cusip: | 17329FQZ0
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