Published on 7/13/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $668,000 autocallable securities on Dow, Russell
By Wendy Van Sickle
Columbus, Ohio, July 13 – Citigroup Global Markets Holdings Inc. priced $668,000 of autocallable securities due May 29, 2026 linked to the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be automatically called at par plus an annualized redemption premium of 2.75% if the closing level of each underlying index is at or above its initial level on any quarterly review date after one year.
If each index finishes at or above its initial level, the payout will be par plus the return of the laggard index. If either index declines but not below the 90% buffer level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index beyond the buffer.
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: | Autocallable securities
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| Underlying indexes: | Dow Jones industrial average and Russell 2000 index
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| Amount: | $668,000
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| Maturity: | May 29, 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 the return of the laggard index; if either index falls by up to 10%, par; otherwise, 1% loss for each 1% decline of the lesser-performing index beyond the buffer
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| Call: | Automatically at par plus annualized premium of 2.75% if each index closes at or above its initial level on any quarterly review date after one year
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| Initial levels: | 34,312.46 for Dow, 2,205.75 for Russell
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| Buffer levels: | 30,881.214 for Dow, 1,985.175 for Russell; 90% of initial levels
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| Pricing date: | May 25
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| Settlement date: | May 28
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17329FLY8
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