Published on 2/19/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $16.21 million trigger PLUS with autocallable feature linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Feb. 18 – Citigroup Global Markets Holdings Inc. priced $16.21 million of 0% trigger Performance Leveraged Upside Securities with autocallable feature due Feb. 26, 2023 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup, Inc.
The notes will be called at par plus 8% if the index closes at or above its initial level on Feb. 8, 2022.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par of $10 plus 120% of the index return. If the index declines by 25% or less, the payout will be par. If the index declines by more than 25%, investors will lose 1% for every 1% that the index declines from its initial level.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Trigger Performance Leveraged Upside Securities with autocallable feature
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| Underlying index: | S&P 500
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| Amount: | $16,209,680
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| Maturity: | Feb. 16, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | At par plus 8% if index closes at or above initial level on Feb. 8, 2022
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| Payout at maturity: | If final index level is greater than initial index level, par plus 120% of index return; if final index level is less than initial index level but greater than or equal to trigger level, par; if final index level is less than trigger level, 1% loss for every 1% that index declines from initial level
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| Initial index level: | 3,934.83
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| Trigger level: | 2,951.13, 75% of initial level
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| Pricing date: | Feb. 12
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| Settlement date: | Feb. 18
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| Underwriter: | Citigroup Global Markets Inc.
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 17329B434
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