Published on 6/6/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $255,000 autocallable securities on S&P, Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., June 7 – Citigroup Global Markets Holdings Inc. priced $255,000 of 0% autocallable securities due May 16, 2024 tied to the worst performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The notes will be called at par plus a premium of 9.55% per year if each index closes at or above its initial level on any semiannual valuation date after one year.
If each index finishes at or above its initial level, the payout at maturity will be par plus 28.65%.
If the least performing index 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 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: | S&P 500, Russell 2000, Nasdaq-100 index
|
| Amount: | $255,000
|
| Maturity: | May 16, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above its initial level, par plus 28.65%; 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
|
| Call: | The notes will be called at par plus a premium of 9.55% per year if each index closes at or above its initial level on any semiannual valuation date after one year
|
| Initial levels: | 13,351.27 for Nasdaq, 2,206.987 for Russell, 4,152.1 for S&P
|
| Barrier levels: | 9,345.889 for Nasdaq, 1,544.891 for Russell, 2,906.47 for S&P; 70% of initial levels
|
| Pricing date: | May 12
|
| Settlement date: | May 17
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.85%
|
| Cusip: | 17329FHL1
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