Published on 2/24/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.34 million of market-linked securities on three indexes
By William Gullotti
Buffalo, N.Y., Feb. 24 – Citigroup Global Markets Holdings Inc. priced $2.34 million of market-linked securities with leveraged upside participation and contingent downside due April 27, 2026 linked to the least performing of the S&P 500 index, the Russell 2000 index and the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
If all indexes finish above their initial levels, the payout at maturity will be par plus 1.4 times the return of the worst-performing index.
If any index finishes below its initial level, but the worst performer finishes above 70% of its initial level, the payout will be par.
Otherwise, investors will have full downside exposure to the return of the worst performer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Market-linked securities – leveraged upside participation and contingent downside
|
| Underlying indexes: | S&P 500, Russell 2000, S&P MidCap 400
|
| Amount: | $2,342,000
|
| Maturity: | April 27, 2026
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.4 times return of worst performer if all finish above initial levels; par if worst performer declines but not more than 30%; otherwise, full exposure to losses of worst performer
|
| Initial levels: | 4,134.98 for S&P, 2,232.614 for Russell, 2,700.37 for MidCap
|
| Final barrier levels: | 2,894.486 for S&P, 1,562.8298 for Russell, 1,890.259 for MidCap; 70% of initial levels
|
| Pricing date: | April 22, 2021
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| Settlement date: | April 27, 2021
|
| Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities, LLC
|
| Fees: | 3.79%
|
| Cusip: | 17329FHA5
|
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