Published on 4/22/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.43 million autocallable buffer securities on Nasdaq, Russell
Chicago, April 22 – Citigroup Global Markets Holdings Inc. priced $1.43 million of 0% autocallable buffer securities due Oct. 2, 2024 linked to the worst performing of the Russell 2000 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 automatically called at par plus a 5% annualized premium if both underlying indexes close at or above their initial levels on either annual observation date.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus the return of the lesser performing index.
If either index finishes below its initial level but at or above its buffer level, 85% of its initial level, the payout will be par.
If either index finishes below its buffer level, investors will lose 1% for every 1% decline of the lesser performing index beyond 15%.
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 buffer securities
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| Underlying indexes: | Russell 2000 index and Nasdaq-100 index
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| Amount: | $1,434,000
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| Maturity: | Oct. 2, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, par plus lowest return; if either index finishes below its initial level but at or above its buffer level, par; if either index finishes below its buffer level, 1% loss for every 1% decline of the lesser performing index beyond the buffer
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| Call: | Automatically at par plus 5% annualized premium if each underlying closes at or above its initial level on either annual call date
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| Initial levels: | 15,204.83 for Nasdaq, 2,281.003 for Russell
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| Buffer levels: | 12,924.106 for Nasdaq, 1,938.853 for Russell; 85% of initial levels
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| Pricing date: | Sept. 27, 2021
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| Settlement date: | Sept. 30, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.2%
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| Cusip: | 17329QEM8
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