Published on 5/19/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.1 million autocallable securities on Russell index, EM ETF
Chicago, May 19 – Citigroup Global Markets Holdings Inc. priced $1.1 million of 0% autocallable securities due Oct. 30, 2026 tied to the worst performing of the iShares MSCI Emerging Markets ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each underlier closes at or above its initial level on any quarterly valuation date after one year, the notes will be called at par plus an annualized call premium of 8.05%.
If each underlier finishes at or above its initial level, the payout at maturity will be par plus 40.25%.
If the least performing underlier finishes below 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 performer from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying assets: | iShares MSCI Emerging Markets ETF, Russell 2000 index
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| Amount: | $1,100,000
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| Maturity: | Oct. 30, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each underlier finishes at or above its initial level, par plus 40.25%; if the least performing underlier finishes below its initial level but not below the barrier level, par; otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level
|
| Call: | If each underlier closes at or above its initial level on any quarterly valuation date after one year, the notes will be called at par plus an annualized call premium of 8.05%
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| Initial levels: | $51.62 for ETF, 2,252.491 for Russell
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| Barrier levels: | $36.134 for ETF, 1,576.744 for Russell; 70% of initial levels
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| Pricing date: | Oct. 27, 2021
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| Settlement date: | Oct. 29, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.35%
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| Cusip: | 17329UEM9
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