Published on 6/25/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $773,000 autocallable securities on Nasdaq, Russell, Dow
By Kiku Steinfeld
Chicago, June 25 – Citigroup Global Markets Holdings Inc. priced $773,000 of 0% autocallable 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 will be guaranteed by Citigroup Inc.a
If each index closes at or above of its call level on any annual valuation date, the notes will be called at par plus a premium of 5.55% a year. The call level for each index will be 100% of its initial level.
If each index finishes at or above its initial level, the payout at maturity will be par plus 27.75%.
If the least performing index finishes below its initial level but not below the barrier level, 60% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $773,000
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| Maturity: | June 15, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus 27.75%; if the least performing index finishes below its initial level but not below the barrier level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level
|
| Call: | If each index closes at or above its call level on any annual valuation date, the notes will be called at par plus a premium of 5.55% a year; call level for each index will be 100% of its initial level
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| Initial levels: | 34,466.24 for Dow, 2,311.409 for Russell, 13,960.35 for Nasdaq
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| Barriers: | 20,679.744 for Dow, 1,386.845 for Russell, 8,376.210 for Nasdaq; 60% of initial levels
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| Pricing date: | June 10
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| Settlement date: | June 15
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17329FYV0
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