Published on 4/8/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.02 million autocallable securities on Russell, Nasdaq, S&P
By Kiku Steinfeld
Chicago, April 8 – Citigroup Global Markets Holdings Inc. priced $1.02 million of 0% autocallable securities due Sept. 27, 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 any semiannual call observation date after one year, the notes will be redeemed at par plus a 10.5% annualized premium.
If each index finishes at or above its initial level, the payout at maturity will be par plus 31.5%.
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.
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: | $1,015,000
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| Maturity: | Sept. 27, 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 31.5%; 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
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| Call: | If each index closes at or above its initial level on any semiannual call observation date after one year, the notes will be redeemed at par plus 10.5% a year
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| Initial levels: | 4,455.48 for S&P, 2,248.075 for Russell, 15,329.68 for Nasdaq
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| Barrier levels: | 3,118.836 for S&P, 1,573.653 for Russell, 10,730.776 for Nasdaq; 70% of initial levels
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| Pricing date: | Sept. 24, 2021
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| Settlement date: | Sept. 29, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17329QYF1
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