Published on 11/1/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $838,000 autocallable securities on S&P, Russell, Dow
Chicago, Nov. 1 – Citigroup Global Markets Holdings Inc. priced $838,000 of 0% autocallable securities due March 31, 2026 tied to the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If each index closes at or above its initial level, on any semiannual valuation date after one year, the notes will be called at par plus an annual premium of 10.6%.
If each index finishes at or above its initial level, the payout at maturity will be par plus 53%.
If the least performing index finishes below its initial level but not below the barrier level, 70% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
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: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $838,000
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| Maturity: | March 31, 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 its initial level, par plus 53%; if the least performing index finishes below its initial level but not below the barrier level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level
|
| Call: | If each index closes at or above its premium threshold on any quarterly valuation date after one year, the notes will be called at par plus an annual premium of 10.6%
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| Initial levels: | 33,072.88 for Dow, 2,221.482 for Russell, 3,974.54 for S&P
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| Barrier levels: | 23,151.016 for Dow, 1,555.037 for Russell, 2,782.178 for S&P; 70% of initial levels
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| Pricing date: | March 26
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| Settlement date: | March 31
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17329FAW4
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