Published on 11/8/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.23 million autocallable securities on Russell, Dow
Chicago, Nov. 8 – Citigroup Global Markets Holdings Inc. priced $1.23 million of 0% autocallable securities due March 31, 2026 tied to the worst performing 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.
If each index closes at or above of 90% of its initial level on any quarterly valuation date after one year, the notes will be called at par plus an annual premium of 3.25%.
If each index finishes at or above 90% of its initial level, the payout at maturity will be par plus 16.25%.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index beyond the 10% buffer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | Russell 2000 index, Dow Jones industrial average
|
| Amount: | $1,232,000
|
| Maturity: | March 31, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above its buffer level, par plus 16.25%; otherwise, investors will lose 1% for each 1% decline of the worst performing index beyond the buffer
|
| Call: | If each index closes at or above 90% of its initial level on any quarterly valuation date after one year, the notes will be called at par plus an annual premium of 3.25%
|
| Initial levels: | 33,072.88 for Dow, 2,221.482 for Russell
|
| Barrier levels: | 29,765.592 for Dow, 1,999.334 for Russell; 90% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3%
|
| Cusip: | 17328YSA3
|
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