Published on 2/20/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.65 million autocallable securities on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Feb. 22 – Citigroup Global Markets Holdings Inc. priced $1.65 million of 0% autocallable securities due Feb. 10, 2026 linked to the Nasdaq-100 index, the Russell 2000 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 its initial level on any annual valuation date, the notes will be called at par plus an annual premium of 8.5%.
If each index finishes at or above 95% of its initial level, the payout at maturity will be par plus 42.5%.
If the least performing index falls below 95% of the initial level but not below its final 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 from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | Nasdaq-100, Russell 2000, S&P 500
|
| Amount: | $1,649,000
|
| Maturity: | Feb. 10, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above 95% of initial level, par plus 42.5%; if worst performing index declines by more than 5% but finishes at or above final barrier level, par; otherwise, 1% loss for each 1% decline of the worst performing index from its initial level
|
| Call: | Automatically at par plus an annual premium of 8.5% if each index closes at or above its initial level on any annual valuation date
|
| Initial levels: | 3,886.83 for S&P, 13,603.96 for Nasdaq, 2,233.327 for Russell
|
| Final barrier levels: | 2,720.781 for S&P, 9,522.772 for Nasdaq, 1,563.329 for Russell, 70% of initial levels
|
| Pricing date: | Feb. 5
|
| Settlement date: | Feb. 10
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4.125%
|
| Cusip: | 17328YP81
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
