Published on 8/25/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $106,000 autocallable securities on Dow, Russell
By Taylor Fox
New York, Aug. 25 – Citigroup Global Markets Holdings Inc. priced $106,000 of 0% autocallable securities due Feb. 20, 2026 linked to the worst performing of the Russell 2000 index and the Dow Jones industrial average, 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 its initial level on any quarterly valuation date starting after one year, the notes will be called at par plus a premium at a rate of 5% per year.
If each index finishes at or above its initial level, the payout at maturity will be par plus the 25% premium for the final valuation date.
If the least-performing index falls more than the autocall barrier but not below its final barrier level, 85% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the least-performing index beyond the 15% buffer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | Russell 2000, Dow Jones industrial average
|
| Amount: | $106,000
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| Maturity: | Feb. 20, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above its initial level, par plus 25%; if least-performing index declines but above final barrier level, par; otherwise, 1% loss for each 1% decline of the least-performing index beyond the buffer
|
| Call: | Automatically at par plus a premium of 5% per year if each index closes at or above its initial level on any quarterly valuation date after one year
|
| Initial levels: | 31,613.02 for Dow, 2,256.106 Russell
|
| Barrier levels: | 26,871.067 for Dow, 1,917.69 Russell, 85% of initial levels
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| Pricing date: | Feb. 17
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| Settlement date: | Feb. 22
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 17328YQ49
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