Published on 3/28/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $5.08 million autocallable securities on Russell, Nasdaq, S&P
Chicago, March 28 – Citigroup Global Markets Holdings Inc. priced $5.08 million of 0% autocallable securities due April 30, 2026 tied to the worst performing of the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, 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 annual call observation date, the notes will be redeemed at par plus an 8% annualized premium.
If each index finishes at or above 95% of its initial level, the payout at maturity will be par plus 40%.
If the least performing index finishes below 95% of its initial level but not below the barrier level, 70% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index.
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, Nasdaq-100 index, S&P 500 index
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| Amount: | $5,075,000
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| Maturity: | April 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 95% of its initial level, par plus 40%; if the least performing index finishes below its 95% trigger level but not below the barrier level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing index
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| Call: | If each index closes at or above its initial level on any annual call observation date the notes will be redeemed at par plus 8% a year
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| Initial levels: | 4,186.72 for S&P, 13,960.28 for Nasdaq, 2,301.267 for Russell
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| Trigger levels: | 3,977.384 for S&P, 13,262.266 for Nasdaq, 2,186.204 for Russell; 95% of initial levels
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| Barrier levels: | 2,930.704 for S&P, 9,772.196 for Nasdaq, 1,610.887 for Russell; 70% 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: | 4.125%
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| Cusip: | 17329F3N2
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