Published on 7/19/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.02 million autocallable contingent coupon notes on Nasdaq, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, June 19 – Citigroup Global Markets Holdings Inc. priced $1.02 million of autocallable contingent coupon equity-linked securities due Sept. 1, 2022 linked to the worst performing of 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 are guaranteed by Citigroup Inc.
The notes pay a contingent monthly coupon at an annualized rate of 5% if each index closes at or above its coupon barrier level, 80% of its initial level, on the valuation date for that period.
The notes will be called at par if each index closes above its initial level on Nov. 29, 2021, Feb. 28, 2022 or May 27, 2022.
If the notes are not redeemed early, the payout will be par unless any index finishes below 84% of its initial level, in which case investors will lose 1% for every 1% that the least performing index declines beyond 16%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying indexes: | Russell 2000 index, S&P 500 index, Nasdaq-100 index
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| Amount: | $1.02 million
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| Maturity: | Sept. 1, 2022
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| Contingent coupon: | 5% per year, payable monthly if each index closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its buffer level, in which case investors will lose 1% for every 1% that the least performing index declines beyond 16%
|
| Call: | At par if each index closes above its initial level on Nov. 29, 2021, Feb. 28, 2022 or May 27, 2022
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| Initial levels: | 4,200.88 for S&P, 13,657.85 for Nasdaq, 2,273.073 for Russell
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| Coupon barrier levels: | 3,360.704 for S&P, 10,926.28 for Nasdaq, 1,818.458 for Russell; 80% of initial levels
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| Buffer levels: | 3,528.739 for S&P, 11,472.594 for Nasdaq, 1,909.381 for Russell; 84% of initial levels
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| Pricing date: | May 27
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| Settlement date: | June 2
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.725%
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| Cusip: | 17329FF25
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