Published on 8/5/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.44 million barrier securities on Dow, S&P, Russell
By William Gullotti
Buffalo, N.Y., Aug. 5 – Citigroup Global Markets Holdings Inc. priced $2.44 million of 0% barrier securities due Aug. 4, 2026 linked to the least performing of the Russell 2000 index, the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each index finishes at or above its initial level, payout will be par plus 1.5 times the return of the least-performing index.
If the least-performing index finishes below its initial level but at or above its final barrier level, 70% of its initial level, the payout at maturity will be par.
Otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Barrier securities
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| Underlying indexes: | Dow Jones industrial average, S&P 500 index, Russell 2000 index
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| Amount: | $2,438,000
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| Maturity: | Aug. 4, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above initial level, par plus 1.5 times the gain of the least-performing index; if any index finishes below its initial level but at or above its final barrier level, par; otherwise, 1% loss for each 1% decline of the least-performing index from its initial level
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| Initial levels: | 34,935.47 for Dow, 4,395.26 for S&P, 2,226.246 for Russell
|
| Final barrier levels: | 24,454.829 for Dow, 3,076.682 for S&P, 1,558.372 for Russell; 70% of initial levels
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| Pricing date: | July 30
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| Settlement date: | Aug. 4
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.125%
|
| Cusip: | 17329FVB7
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