Published on 5/31/2021 in the Prospect News Structured Products Daily.
New Issue: Citi prices $3.94 million trigger PLUS linked to Dow, S&P
By Kiku Steinfeld
Chicago, June 1 – Citigroup Global Markets Holdings Inc. priced $3.94 million of 0% trigger Performance Leveraged Upside Securities due May 12, 2027 linked to the worst performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If each index finishes above its initial level, the payout at maturity will be par of $10 plus 120% of any gain of the worst performing index.
If either index falls but each remains at or above the 65% trigger level, the payout will be par.
Otherwise, investors will be fully exposed to any losses 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: | Trigger Performance Leveraged Upside Securities
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Underlying indexes: | Dow Jones industrial average and S&P 500 index
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Amount: | $3,941,000
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Maturity: | May 12, 2027
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If worst-performing index gains, par plus 120% of the return of the worst performing index; if either index falls by up to trigger level, par; otherwise, full exposure to any losses of worst performing index
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Initial level: | 4,232.60 for S&P, 34,777.76 for Dow
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Trigger level: | 2,751.190 for S&P, 22,605.544 for Dow; 65% of initial level
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Pricing date: | May 7
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Settlement date: | May 12
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.35%
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Cusip: | 17329D877
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