Published on 7/22/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $765,000 autocallable securities on three ETFs
By William Gullotti
Buffalo, N.Y., July 22 – Citigroup Global Markets Holdings Inc. priced $765,000 of 0% autocallable securities due July 20, 2026 tied to the Energy Select Sector SPDR Fund, the SPDR S&P Biotech ETF and the VanEck Vectors Junior Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If each ETF closes at or above its call level, 95% of its initial level, on any quarterly valuation date after one year, the notes will be called at par plus an annual premium of 17.5%.
If each ETF finishes at or above its call level, the payout at maturity will be par plus 87.5%.
If the least performing ETF finishes below its call level but not below its final barrier level, 60% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing ETF from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying funds: | Energy Select Sector SPDR fund, SPDR S&P Biotech ETF, VanEck Vectors Junior Gold Miners ETF
|
| Amount: | $765,000
|
| Maturity: | July 20, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each ETF finishes at or above its call level, par plus 87.5%; if the least performing ETF finishes below its call level but not below its final barrier level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing ETF from its initial level
|
| Call: | If each ETF closes at or above its call level on any quarterly valuation date after one year, the notes will be called at par plus an annual premium of 17.5%
|
| Initial levels: | $50.10 for Energy, $125.94 for Biotech, $46.77 for Gold
|
| Autocall barriers: | $47.595 for Energy, $119.643 for Biotech, $44.432 for Gold; 95% of initial levels
|
| Final barriers: | $30.06 for Energy, $75.564 for Biotech, $28.062 for Gold; 60% of initial levels
|
| Pricing date: | July 15
|
| Settlement date: | July 20
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4.125%
|
| Cusip: | 17329Q4M9
|
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