Published on 5/12/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.5 million barrier autocallables on S&P, Russell, Dow
By Kiku Steinfeld
Chicago, May 12 – Citigroup Global Markets Holdings Inc. priced $1.5 million of 0% autocallable barrier securities due April 26, 2024 tied to 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 are guaranteed by Citigroup Inc.
If each index closes at or above its initial level on any semiannual valuation date, the notes will be called at par plus a premium of 5.1% a year.
If each index finishes at or above its initial level, the payout at maturity will be par plus the return of the least-performing index.
If the least-performing index finishes below its initial level but not below its barrier level, 60% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable barrier securities
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| Underlying indexes: | S&P 500, Russell 2000, Dow Jones industrial average
|
| Amount: | $1,500,000
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| Maturity: | April 26, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above initial level, par plus return of least-performing index; if least-performing index finishes below initial level but not below barrier level, par; otherwise, investors will lose 1% for each 1% decline of worst performing index from initial level
|
| Call: | If each index closes at or above initial level on any semiannual valuation date, notes will be called at par plus premium of 5.1% a year
|
| Initial levels: | 34,043.49 for Dow, 2,271.856 for Russell, 4,180.17 for S&P
|
| Barrier levels: | 20,426.094 for Dow, 1,363.114 for Russell, 2,508.102 for S&P, 60% of initial levels
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| Pricing date: | April 23
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| Settlement date: | April 28
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.95%
|
| Cusip: | 17329FJV7
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