Published on 7/13/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $637,000 autocallable securities on Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, July 13 – Citigroup Global Markets Holdings Inc. priced $637,000 of autocallable securities due May 31, 2024 linked to the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be automatically called at par plus an annualized redemption premium of 6% if the closing level of each underlying index is at or above its initial level on either annual review date.
If each index finishes at or above its initial level, the payout will be par plus the return of the laggard index. If either index declines but not below the 80% buffer level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index beyond the buffer.
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: | Autocallable securities
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| Underlying indexes: | Nasdaq-100 index and Russell 2000 index
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| Amount: | $637,000
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| Maturity: | May 31, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus the return of the laggard index; if either index falls by up to 20%, par; otherwise, 1% loss for each 1% decline of the lesser-performing index beyond the buffer
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| Call: | Automatically at par plus annualized premium of 6% if each index closes at or above its initial level on either annual redemption date
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| Initial levels: | 13,657.73 for Nasdaq, 2,205.75 for Russell
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| Buffer levels: | 11,609.071 for Nasdaq, 1,874.888 for Russell; 80% of initial levels
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| Pricing date: | May 25
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| Settlement date: | May 28
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.2%
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| Cusip: | 17329FJF2
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