Published on 2/14/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $5.13 million autocallable securities on Russell, S&P, Dow
By William Gullotti
Buffalo, N.Y., Feb. 14 – Citigroup Global Markets Holdings Inc. priced $5.13 million of 0% autocallable securities due Feb. 9, 2028 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 call level, 102% of initial level, on any semiannual valuation date after one year, the notes will be called at par plus an annual premium of 11.7%.
If each index finishes at or above its call level, the payout at maturity will be par plus 70.2%.
If the least performing index finishes below its call level but not below the trigger 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.
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| 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: | $5,131,000
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| Maturity: | Feb. 9, 2028
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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 call level, par plus 70.2%; if the least performing index finishes below its call level but not below the trigger 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 its call level on any semiannual valuation date after one year, the notes will be called at par plus an annual premium of 11.7%
|
| Initial levels: | 35,091.13 for Dow, 4,483.87 for S&P, 2,012.599 for Russell
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| Call levels: | 35,792.953 for Dow, 4,573.547 for S&P, 2,052.851 for Russell; 102% of initial levels
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| Trigger levels: | 26,318.348 for Dow, 3,362.903 for S&P, 1,509.449 for Russell; 75% of initial levels
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| Pricing date: | Feb. 7
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| Settlement date: | Feb. 9
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | None
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| Cusip: | 17330ABW1
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