Published on 9/13/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $500,000 dual directional barrier securities on Dow, Nasdaq, Russell
By William Gullotti
Buffalo, N.Y., Sept. 13 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% dual directional barrier securities due June 30, 2026 linked to the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the worst performing index finishes at or above its initial level, the payout at maturity will be par plus the return of the least performing index.
If the worst performing index declines but finishes at or above its 66.5% barrier level, the payout will be par plus the absolute value of the return of the worst performing index.
Otherwise, investors will be fully exposed to the decline of the least performing index from its initial level.
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: | Dual directional barrier securities
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Underlying indexes: | Russell 2000 index, Nasdaq-100 index, Dow Jones industrial average
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Amount: | $500,000
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Maturity: | June 30, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the worst performing index finishes at or above its initial level, par plus the return of the least performing index; if the worst performing index falls by up to barrier level, par plus absolute value of the return of the worst performing index; otherwise, full exposure to decline of the least performing index from its initial level
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Initial levels: | 34,433.84 for Dow, 14,345.18 for Nasdaq, 2,334.396 for Russell
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Barrier levels: | 22,898.504 for Dow, 9,539.545 for Nasdaq, 1,552.373 for Russell; 66.5% of initial levels
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Pricing date: | June 20
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Settlement date: | June 25
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 3.5%
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Cusip: | 17329FYE8
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