Published on 5/19/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.65 million autocallable securities on Russell, Dow
Chicago, May 19 – Citigroup Global Markets Holdings Inc. priced $1.65 million of 0% autocallable securities due Oct. 29, 2026 tied to the worst performing of 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 its initial level on quarterly valuation dates starting after one year, the notes will be called at par plus an annualized premium of 4%.
If the worst performer closes at or above of its initial level, the payout at maturity will be par plus 20%. If the least performing index declines but finishes at or above its 85% buffer level, the payout will be par. Otherwise, investors will be exposed to the decline of the least performing index beyond the buffer.
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, Dow Jones industrial average
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| Amount: | $1,651,000
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| Maturity: | Oct. 29, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index closes at or above its initial level, par plus 20%; if least performing index declines but finishes at or above its buffer level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing index beyond buffer
|
| Call: | If each index closes at or above its initial level on any quarterly autocall date after one year, the notes will be called at par plus an annualized premium of 4%
|
| Initial levels: | 35,756.88 for Dow, 2,296.075 for Russell
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| Buffer levels: | 30,393.348 for Dow, 1,951.664 for Russell; 85% of initial levels
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| Pricing date: | Oct. 26, 2021
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| Settlement date: | Oct. 29, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17329U3K5
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