Published on 3/28/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.19 million autocallable securities on Russell, Dow
Chicago, March 28 – Citigroup Global Markets Holdings Inc. priced $1.19 million of 0% autocallable securities due April 30, 2026 tied to 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 its call level on any quarterly valuation date after one year, the notes will be called at par plus an annualized premium of 3.25%. The call level for each index will be 90% of its initial level.
If each index finishes at or above its initial level, the payout at maturity will be par plus 19%.
If the least performing index finishes below its initial level but not below the buffer level, 90% of the initial level, the payout will be par plus the final 16.25% premium.
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.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying indexes: | Russell 2000, Dow Jones industrial average
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| Amount: | $1,190,000
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| Maturity: | April 30, 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 buffer level, par plus 16.25%; otherwise, investors will lose 1% for each 1% decline of the worst performing index beyond 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 annualized premium of 3.25%
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| Initial levels: | 2,301.267 for Russell, 33,984.93 for Dow
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| Buffer levels: | 2,071.140 for Russell, 30,586.437 for Dow; 90% of initial levels
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| Pricing date: | April 27, 2021
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| Settlement date: | April 30, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17329F5Z3
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