Published on 9/15/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3 million autocallable securities on S&P, Russell, Dow
By Kiku Steinfeld
Chicago, Sept. 15 – Citigroup Global Markets Holdings Inc. priced $3 million of 0% autocallable securities due June 30, 2026 tied to the S&P 500 index, 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 105% of its initial level on any semiannual valuation date after one year, the notes will be called at par plus an annualized premium of 11%.
If each index finishes at or above 105% of its initial level, the payout at maturity will be par plus 55%.
If the least performing index finishes below 105% of its initial level but not below the barrier level, 75% 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, Dow Jones industrial average
|
| Amount: | $3,007,000
|
| Maturity: | June 30, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above its call level, par plus 55%; if the least performing index finishes below its call level but not below its 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 105% of its initial level on any semiannual valuation date after one year, the notes will be called at par plus an annualized premium of 11%
|
| Initial levels: | 34,433.84 for Dow, 2,334.396 for Russell, 4,280.70 for S&P
|
| Call levels: | 36,155.532 for Dow, 2,451.116 for Russell, 4,494.735 for S&P; 105% of initial levels
|
| Barriers: | 25,825.38 for Dow, 1,750.797 for Russell, 3,210.525 for S&P; 75% of initial levels
|
| Pricing date: | June 25
|
| Settlement date: | June 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.25%
|
| Cusip: | 17329FSE5
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
