Published on 7/30/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $964,000 autocallable securities on S&P, Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., July 30 – Citigroup Global Markets Holdings Inc. priced $964,000 of 0% autocallable securities due July 30, 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 call level, 95% of initial level, on any annual valuation date, the notes will be called at par plus an annual premium of 4.35%
If each index finishes at or above its call level, the payout at maturity will be par plus 21.75%.
If the least performing index finishes below its call level but not below the barrier level, 60% 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.
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| Issue: | Autocallable securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $964,000
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| Maturity: | July 30, 2026
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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 call level, par plus 21.75%; if the least performing index finishes below its call 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 95% of its initial level on any annual valuation date, the notes will be called at par plus an annual premium of 4.35%
|
| Initial levels: | 15,125.95 for Nasdaq, 2,216.921 for Russell, 4,422.3 for S&P
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| Call levels: | 14,369.653 for Nasdaq, 2,106.075 for Russell, 4,201.185 for S&P; 95% of initial levels
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| Barriers: | 9,075.57 for Nasdaq, 1,330.153 for Russell, 2,653.38 for S&P; 60% of initial levels
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| Pricing date: | July 26
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| Settlement date: | July 29
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17329QG20
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