Published on 4/4/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $585,000 autocallable securities on Nasdaq, Russell, Dow
By William Gullotti
Buffalo, N.Y., April 4 – Citigroup Global Markets Holdings Inc. priced $585,000 of 0% autocallable securities due Nov. 8, 2023 tied to the worst performing of the Nasdaq-100 index, the Russell 2000 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 on any semiannual valuation date, the notes will be called at par plus a premium of 10.1% a year. The call level for each index will be 100% of its initial level.
If each index finishes at or above its initial level, the payout at maturity will be par plus 25.25%.
If the least performing index finishes below its initial level but not below the barrier level, 65% 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: | Nasdaq-100, Russell 2000, Dow Jones industrial average
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| Amount: | $585,000
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| Maturity: | Nov. 8, 2023
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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 25.25%; if the least performing index finishes below its initial level but not below the barrier level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level
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| Call: | If each index closes at or above its call level on any semiannual valuation date, the notes will be called at par plus a premium of 10.1% a year; call level for each index will be 100% of its initial level
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| Initial levels: | 34,113.23 for Dow, 2,277.451 for Russell, 13,799.72 for Nasdaq
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| Barrier levels: | 22,173.6 for Dow, 1,480.343 for Russell, 8,969.818 for Nasdaq; 65% of initial levels
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| Pricing date: | May 3, 2021
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| Settlement date: | May 6, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.95%
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| Cusip: | 17329FLS1
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