Published on 11/2/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3.13 million autocallable securities on Russell, S&P, Dow
By William Gullotti
Buffalo, N.Y., Nov. 2 – Citigroup Global Markets Holdings Inc. priced $3.13 million of 0% autocallable securities due July 30, 2026 tied to the Russell 2000 index, the S&P 500 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 of its initial level on any quarterly valuation date after one year, the notes will be called at par plus an annual premium of 4%.
If each index finishes at or above its initial level, the payout at maturity will be par plus 20%.
If the least performing index finishes below its initial level but not below the buffer level, 85% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index below 15%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying indexes: | Russell 2000 index, S&P 500 index, Dow Jones industrial average
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| Amount: | $3,133,000
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| Maturity: | July 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 its initial level, par plus 20%; if the least performing index finishes below its initial level but not below the buffer level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing index below 15%
|
| Call: | If each index closes at or above its initial level on any quarterly valuation date after one year, the notes will be called at par plus an annual premium of 4%
|
| Initial levels: | 35,058.52 for Dow, 4,401.46 for S&P, 2,191.833 for Russell
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| Buffer levels: | 29,799.742 for Dow, 3,741.241 for S&P, 1,863.058 for Russell; 85% of initial levels
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| Pricing date: | July 27
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| Settlement date: | July 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.75%
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| Cusip: | 17329FU28
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