Published on 7/13/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $5.66 million autocallable securities on Russell, Dow
By William Gullotti
Buffalo, N.Y., July 13 – Citigroup Global Markets Holdings Inc. priced $5.66 million of 0% autocallable securities due May 29, 2026 tied to the performance of 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.
After one year, if each index closes at or above of its initial level on any quarterly valuation date, the notes will be called at par plus an annual premium of 4%.
If each index finishes at or above its initial level, the payout at maturity will be par plus 20%.
If the least performing index finishes below its initial level but not below the barrier level, 85% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index beyond the 15% buffer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average
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| Amount: | $5,658,000
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| Maturity: | May 29, 2026
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus 20%; 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 beyond 15%
|
| Call: | After one year, if each index closes at or above its initial level on any quarterly valuation date, the notes will be called at par plus an annual premium of 4%
|
| Initial levels: | 34,312.46 for Dow, 2,205.75 for Russell
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| Barriers: | 29,165.591 for Dow, 1,874.888 for Russell; 85% 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.
|
| Fees: | 3.75%
|
| Cusip: | 17329FJ54
|
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