Published on 2/21/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $10.45 million autocallable notes on Dow, Russell, S&P
By Taylor Fox
New York, Feb. 22 – Citigroup Global Markets Holdings Inc. priced $10.45 million of 0% autocallable securities due Aug. 5, 2027 linked to the Dow Jones industrial average, Russell 2000 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.
Citigroup will call the notes at par plus a call premium of 11.9% per year if the closing level of each asset is greater than or equal to its initial level on any semiannual call date starting after one year.
If each asset finishes at or above its initial index level, the payout at maturity will par plus 77.35%.
Investors will receive par if the final level of any asset is less than its initial level but each index finishes at or above the final barrier level, 75% of its initial level.
Otherwise, investors will lose 1% for each 1% decline of the worst performing asset from its initial level.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and the S&P 500 index
|
| Amount: | $10,466,000
|
| Maturity: | Aug. 5, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 77.35% if each index finishes above initial level; par if any index finishes below initial level, but each index finishes at or above final barrier level; otherwise, investors will be fully exposed to any decline of the least performing index
|
| Call: | Automatically at par plus annualized premium of 11.9% if each asset closes at or above initial level on any semiannual call date
|
| Initial levels: | 29,982.62 for Dow, 2,073.641 for Russell and 3,714.24 for S&P
|
| Final barrier levels: | 22,486.965 for Dow, 1,555.231 for Russell and 2,785.68 for S&P; 75% of initial levels
|
| Pricing date: | Jan. 29
|
| Settlement date: | Feb. 5
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17328YNY6
|
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