Published on 10/3/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $530,000 autocallable securities on indexes, ETF
By Kiku Steinfeld
Chicago, Oct. 4 – Citigroup Global Markets Holdings Inc. priced $530,000 of 0% autocallable securities due July 12, 2024 linked to the Nasdaq-100 index, the Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Citigroup will call the notes at par of $1,000 plus a call premium of 10.75%per year if the closing level of each asset is greater than or equal to its initial level on any quarterly call date after one year.
If each asset finishes at or above its initial index level, the payout at maturity will be par plus 32.25%.
Investors will receive par if the final level of any asset is less than its initial level but each asset finishes at or above the trigger level, 70% of its initial level.
Otherwise, investors will be fully exposed to the decline of the worst performing asset.
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 assets: | Nasdaq-100 index, Russell 2000 index, iShares MSCI Emerging Markets ETF
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| Amount: | $530,000
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| Maturity: | July 12, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 32.25% if each asset finishes above initial level; par if any asset finishes below initial level, but each asset finishes at or above trigger level; otherwise, full exposure to loss of least performing asset
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| Call: | Automatically at par plus annualized premium of 10.75% if each asset closes at or above initial level on any quarterly call date after one year
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| Initial levels: | $53.55 for ETF, 2,280.005 for Russell, 14,826.09 for Nasdaq
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| Trigger levels: | $37.485 for ETF, 1,596.004 for Russell, 10,378.263 for Nasdaq; 70% of initial levels
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| Pricing date: | July 9
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| Settlement date: | July 14
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.95%
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| Cusip: | 17329Q6J4
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