Published on 9/15/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $968,000 autocallable securities on Dow, Russell
By Kiku Steinfeld
Chicago, Sept. 15 – Citigroup Global Markets Holdings Inc. priced $968,000 of 0% autocallable securities due June 30, 2026 linked to the Russell 2000 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 each index closes at or above its buffer level, 90% of the initial level, on any quarterly valuation date after one year, the notes will be called at par plus an annualized 2.75% premium.
If the least-performing index finishes at or above its buffer level, the payout at maturity will be par plus the 13.75% premium for the final valuation date. Otherwise, investors will lose 1% for each 1% decline of the least-performing index beyond the 10% 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: | Russell 2000 index, Dow Jones industrial average
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| Amount: | $968,000
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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 each index finishes at or above buffer level, par plus 13.75%; otherwise, 1% loss for each 1% decline of least-performing index beyond buffer
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| Call: | Automatically at par plus an annualized premium of 2.75% if each index closes at or above its buffer level on any quarterly valuation date after one year
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| Initial levels: | 34,433.84 for Dow, 2,334.396 Russell
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| Buffer levels: | 30,990.456 for Dow, 2,100.956 for Russell, 90% of initial levels
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17329FN34
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