Published on 2/8/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.1 million autocallable securities on Russell, Nasdaq, S&P
Chicago, Feb. 8 – Citigroup Global Markets Holdings Inc. priced $1.1 million of 0% autocallable securities due April 19, 2024 tied to the worst performing of the Russell 2000 index, the Nasdaq-100 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 of its initial level on April 22, 2022, the notes will be redeemed at par plus 9.5%.
If each index finishes at or above its initial level, the payout at maturity will be par plus the return of the worst performer.
If the least performing index finishes below its initial level but not below the buffer level, 85% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index beyond the 15% buffer.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Autocallable securities
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Underlying indexes: | Russell 2000 index, Nasdaq-100 index, S&P 500 index
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Amount: | $1,100,000
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Maturity: | April 19, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above its initial level, par plus return of worst performer; if the least performing index finishes below its initial level but not below the buffer level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing index beyond the buffer
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Call: | If each index closes at or above its initial level on April 22, 2022 the notes will be redeemed at par plus 9.5%
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Initial levels: | 4,185.47 for S&P, 14,041.91 for Nasdaq, 2,262.67 for Russell
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Barrier levels: | 3,557.65 for S&P, 11,935.624 for Nasdaq, 1,923.270 for Russell; 85% of initial levels
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Pricing date: | April 16
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Settlement date: | April 21
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 2.5%
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Cusip: | 17329FP24
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