Published on 11/29/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $5 million autocallable securities on Russell, S&P, Dow
By William Gullotti
Buffalo, N.Y., Nov. 29 – Citigroup Global Markets Holdings Inc. priced $5 million of 0% autocallable securities due Nov. 24, 2026 tied to the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, 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 valuation date after one year, the notes will be called at par plus an annual premium of 8%.
If each index finishes at or above its initial level, the payout at maturity will be par plus 40%.
If the least performing index finishes below its initial level but not below the barrier level, 75% 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.
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| Issue: | Autocallable securities
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| Underlying indexes: | Russell 2000 index, S&P 500 index, Dow Jones industrial average
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| Amount: | $4,995,000
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| Maturity: | Nov. 24, 2026
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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 40%; 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: | If each index closes at or above its initial level on any semiannual valuation date after one year, the notes will be called at par plus an annual premium of 8%
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| Initial levels: | 35,601.98 for Dow, 4,697.96 for S&P, 2,343.161 for Russell
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| Barrier levels: | 26,701.485 for Dow, 3,523.47 for S&P, 1,757.371 for Russell; 75% of initial levels
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| Pricing date: | Nov. 19
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| Settlement date: | Nov. 24
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17329UK42
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