Published on 2/13/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $825,000 autocallable securities on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Feb. 16 – Citigroup Global Markets Holdings Inc. priced $825,000 of 0% autocallable securities due Feb. 7, 2024 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500, 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 its initial level on any semiannual valuation date, the notes will be called at par plus a premium of 14.8% a year.
If each index finishes at or above its initial level the payout will be par plus 44.4%. If the least performing index falls but not below the trigger 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: | Nasdaq-100, Russell 2000, S&P 500
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Amount: | $825,000
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Maturity: | Feb. 7, 2024
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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 44.4%; if any index falls but not below trigger level, par; otherwise, 1% loss for each 1% decline of the worst performing index from its initial level
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Call: | Automatically at par plus an annualized premium of 14.8% if each index closes at or above its initial level on any semiannual valuation date
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Initial levels: | 3,826.31 for S&P, 13,456.12 for Nasdaq, 2,151.440 for Russell
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Trigger levels: | 2,678.417 for S&P, 9,419.284 for Nasdaq, 1,506.008 for Russell; 70% of initial levels
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Pricing date: | Feb. 2
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Settlement date: | Feb. 5
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17328YQQ0
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