Published on 2/27/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3.82 million autocallable securities on three indexes
By Sarah Lizee
Olympia, Wash., Feb. 27 – Citigroup Global Markets Holdings Inc. priced $3.82 million of 0% autocallable securities due March 2, 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 will be guaranteed by Citigroup Inc.
Starting Feb. 22, 2021, 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 11.3% a year.
If each index finishes at or above its initial level, the payout will be par plus 67.8%.
If the least performing index falls but not below the barrier level, 75% 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 agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying indexes: | S&P 500, Russell 2000, Dow Jones industrial average
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| Amount: | $3,823,000
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| Maturity: | March 2, 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 67.8%; if the least performing index falls but not below the barrier level, par; 1% for each 1% decline of the worst performing index from its initial level if it falls beyond barrier level
|
| Call: | Starting Feb. 22, 2021, 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 11.3% a year
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| Initial levels: | 3,337.75 for S&P, 1,678.609 for Russell, 28,992.41 for Dow
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| Final barriers: | 2,503.313 for S&P, 1,258.957 for Russell, 21,744.308 for Dow; 75% of initial levels
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| Pricing date: | Feb. 21
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| Settlement date: | Feb. 28
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | None
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| Cusip: | 17327TY75
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