Published on 3/28/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.73 million autocallable securities on Nasdaq, Russell
Chicago, March 28 – Citigroup Global Markets Holdings Inc. $1.73 million of autocallable securities due May 2, 2024 linked to the worst performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be automatically called at par plus an annualized redemption premium of 7% if the closing level of each underlying index is at or above its initial level on any yearly call date.
If each index finishes at or above its initial level, the payout at maturity will be par plus 1.25 times the gain of the least performer If either index declines but not below the 85% buffer level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index beyond the buffer 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: | Nasdaq-100 index and Russell 2000 index
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| Amount: | $1,729,000
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| Maturity: | May 2, 2024
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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 1.25 times the gain of the least performer; if either index falls by up to 15%, par; otherwise, 1% loss for each 1% decline of the lesser-performing index beyond the buffer level
|
| Call: | Automatically at par plus annualized premium of 7% if each index closes at or above its initial level on any yearly call date
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| Initial levels: | 13,960.28 for Nasdaq, 2,301.267 for Russell 2000
|
| Buffer levels: | 11,866.238 for Nasdaq, 1,956.077 70for Russell 2000; 85% of initial levels
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| Pricing date: | April 27, 2021
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| Settlement date: | April 30, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.2%
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| Cusip: | 17329F5E0
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