Published on 3/18/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1 million autocallable securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, March 18 – Citigroup Global Markets Holdings Inc. priced $1 million of 0% autocallable securities due March 7, 2025 tied to the Nasdaq-100 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 March 2, 2021, if each index closes at or above of its initial level on any annual valuation date, the notes will be called at par plus a premium of 8.5% a year.
If each index finishes at or above its call level, the payout will be par plus 42.5%.
If the least performing index falls by more than the call level but not below the barrier 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 agent.
| 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, Dow Jones industrial average
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| Amount: | $1 million
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| Maturity: | March 7, 2025
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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 call level, par plus 42.5%; if the least performing index falls by more than call level 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
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| Call: | Starting March 2, 2021, if each index closes at or above its initial level on any annual valuation date, the notes will be called at par plus a premium of 8.5% a year
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| Initial levels: | 1,449.221 for Russell, 2,972.37 for S&P, 27,090.86 for Dow
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| Final barriers: | 6,214.585 for Nasdaq, 1,062.944 for Russell, 18,963.602 for Dow; 70% of initial levels
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| Pricing date: | March 4
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| Settlement date: | March 9
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17328VAQ3
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