Published on 8/19/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.5 million autocallable barrier securities on S&P, Nasdaq, Russell
By William Gullotti
Buffalo, N.Y., Aug. 19 – Citigroup Global Markets Holdings Inc. priced $1.5 million of 0% autocallable barrier securities due May 14, 2026 linked to the worst performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically redeemed at par plus an annualized 12.1% premium if all indexes finish above the premium threshold, 102% of initial level, on any annual call observation date.
If the notes are not called and all indexes close above their initial levels, the payout at maturity will be par plus the return of the least performing index.
If the worst performer declines but finishes above 70% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing index.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable barrier securities
|
| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
|
| Amount: | $1,504,000
|
| Maturity: | May 14, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If all indexes finish positive, par plus return of worst performer; par if at least one index declines but worst performer finishes above barrier level; otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing index
|
| Call: | At par plus annualized premium of 12.1% if each index finishes above premium threshold, 102% of initial level, on any annual call observation date
|
| Initial levels: | 4,152.1 for S&P, 13,351.27 for Nasdaq, 2,206.987 for Russell
|
| Trigger levels: | 2,906.47 for S&P, 9,345.889 for Nasdaq, 1,544.891 for Russell; 70% of initial levels
|
| Call levels: | 4,235.142 for S&P, 13,618.295 for Nasdaq, 2,251.127 for Russell; 102% of initial levels
|
| Pricing date: | May 11
|
| Settlement date: | May 14
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.125%
|
| Cusip: | 17329FD27
|
© 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.
