Published on 9/8/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.74 million autocallable securities on S&P, Dow, VanEck
By William Gullotti
Buffalo, N.Y., Sept. 8 – Citigroup Global Markets Holdings Inc. priced $1.74 million of 0% autocallable securities due June 30, 2026 tied to the VanEck Vectors Gold Miners ETF, the S&P 500 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.
If each underlier closes at or above of its initial level on any annual valuation date, the notes will be called at par plus an annualized call premium of 8.1%.
If each underlier finishes at or above its initial level, the payout at maturity will be par plus 40.5%.
If the least performing underlier finishes below its initial level but not below the barrier level, 50% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying assets: | VanEck Vectors Gold Miners ETF, S&P 500 index, Dow Jones industrial average
|
| Amount: | $1,741,000
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| Maturity: | June 30, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each underlier finishes at or above its initial level, par plus 40.5%; if the least performing underlier finishes below its initial level but not below the barrier level, par; otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level
|
| Call: | If each underlier closes at or above its initial level on any annual valuation date, the notes will be called at par plus an annualized call premium of 8.1%
|
| Initial levels: | $34.36 for ETF, 4,280.7 for S&P, 34,433.84 for Dow
|
| Barrier levels: | $17.18 for ETF, 2,140.35 for S&P, 17,216.92 for Dow; 50% of initial levels
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| Pricing date: | June 25
|
| Settlement date: | June 30
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4.125%
|
| Cusip: | 17329FUT9
|
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