Published on 6/6/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.2 million autocallable barrier securities on indexes, Russell ETF
By William Gullotti
Buffalo, N.Y., June 7 – Citigroup Global Markets Holdings Inc. priced $1.2 million of 0% autocallable barrier securities due May 15, 2026 linked to the worst performing of the iShares Russell 2000 ETF, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be called at par plus a call premium of 8.25% per year if each asset closes at or above its initial level on any annual call date.
If the final level of each asset is greater than or equal to its initial level, the payout at maturity will be par plus the gain of the least performing underlier.
The payout will be par if the final level of each asset is less than its initial level but greater than or equal to its final barrier level, 70% of its initial level.
If any asset finishes below its final barrier level, investors will be fully exposed to the decline of the worst performing asset.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable barrier securities
|
| Underlying assets: | iShares Russell 2000 ETF, Nasdaq-100 index, S&P 500 index
|
| Amount: | $1,200,000
|
| Maturity: | May 15, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each asset return is greater than or equal to initial level, par plus the return amount of the worst performing underlier; par if final level of worst performing asset is less than initial level but greater than or equal to final barrier level; full exposure to decline if worst performing asset finishes below final barrier level
|
| Call: | At par plus call premium of 8.25% per year if each asset closes at or above initial level on any annual call date
|
| Initial index levels: | $211.85 for ETF, 13,001.63 for Nasdaq, 4,063.04 for S&P
|
| Final barrier levels: | $148.295 for ETF, 9,101.141 for Nasdaq, 2,844.128 for S&P; 70% of initial levels
|
| Pricing date: | May 12
|
| Settlement date: | May 17
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4.075%
|
| Cusip: | 17329FKJ2
|
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