Published on 3/21/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $4.46 million autocallable securities linked to Russell, Dow, S&P
Chicago, March 22 – Citigroup Global Markets Holdings Inc. priced $4.46 million of 0% autocallable securities due Feb. 5, 2027 linked to the worst performing of the S&P 500 index, the Russell 2000 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 95% of its initial level on any semiannual valuation date after one year, the notes will be called at par plus a premium. The annualized premium rate is 10.2%.
If each index finishes at or above 95% of its initial level, the payout at maturity will be par plus the 61.2% premium applicable to the maturity date. If the lesser-performing index falls by up to 25%, the payout will be par.
Otherwise, investors will fully participate in the losses of the worst performer.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
|
| Amount: | $4,457,000
|
| Maturity: | Feb. 5, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above 95% of its initial level, par plus 61.2% premium applicable to the maturity date; par if lesser-performing index falls by up to 25%; otherwise, full exposure to losses of worst performer
|
| Call: | Automatically at par plus an annualized premium of 10.2% if each index closes at or above 95% of its initial level on any semiannual call date after one year
|
| Initial levels: | 2,073.641 for Russell, 29,982.62 for Dow, 3,714.24 for S&P
|
| Autocall barrier levels: | 1,969.959 for Russell, 28,483.489 for Dow, 3,528.528 for S&P; 95% of initial levels
|
| Barrier levels: | 1,555.231 for Russell, 22,486.965 for Dow, 2,785.680 for S&P; 75% of initial levels
|
| Pricing date: | Jan. 29
|
| Settlement date: | Feb. 5
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17328YL69
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