Published on 6/24/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.33 million autocallables on Nasdaq, Russell, Dow
By Kiku Steinfeld
Chicago, June 24 – Citigroup Global Markets Holdings Inc. priced $1.33 million of 0% autocallable barrier securities due June 15, 2026 tied to the Nasdaq-100 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 call level on any of four annual valuation dates, the notes will be called at par plus a premium of 11.3% a year. The call level for each index will be 102% of its initial level.
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, 70% 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
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
|
| Amount: | $1,332,000
|
| Maturity: | June 15, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above its 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 least-performing index from initial level
|
| Call: | If each index closes at or above autocall barrier level on June 15, 2022, June 12, 2023, June 10, 2024 or June 10, 2025, notes will be called at par plus premium of 11.3% a year
|
| Initial levels: | 34,466.24 for Dow, 2,311.409 for Russell, 13,960.35 for Nasdaq
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| Autocall barrier levels: | 35,155.565 for Dow, 2,357.637 for Russell, 14,239.557 for Nasdaq; 102% of initial levels
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| Barrier levels: | 24,126.368 for Dow, 1,617.986 for Russell, 9,772.245 for Nasdaq; 70% of initial levels
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| Pricing date: | June 10
|
| Settlement date: | June 15
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.125%
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| Cusip: | 17329FX41
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