Published on 5/20/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.08 million autocallable securities on Russell, Nasdaq, Dow
Chicago, May 20 – Citigroup Global Markets Holdings Inc. priced $1.08 million of 0% autocallable securities due Oct. 30, 2026 tied to the worst performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, 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 102% of its initial level on any annual valuation date, the notes will be called at par plus an annual premium of 8.4%.
If each index finishes at or above 102% of its initial level, the payout at maturity will be par plus 42%.
If the least performing index finishes below its premium threshold level but not below the 70% barrier 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: | Russell 2000 index, Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $1,075,000
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| Maturity: | Oct. 30, 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 102% of its initial level, par plus 42%; if the least performing index finishes below its premium threshold 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
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| Call: | If each index closes at or above 102% of its initial level on any annual valuation date, the notes will be called at par plus an annual premium of 8.4%
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| Initial levels: | 35,490.69 for Dow, 15,598.39 for Nasdaq, 2,252.491 for Russell
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| Barrier levels: | 24,843.483 for Dow, 10,918.873 for Nasdaq, 1,576.744 for Russell; 70% of initial levels
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| Premium threshold levels: | 36,200.504 for Dow, 15,910.358 for Nasdaq, 2,297.541 for Russell; 102% of initial levels
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| Pricing date: | Oct. 27, 2021
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| Settlement date: | Nov. 1, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17329UKB6
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