Published on 3/29/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.06 million dual directional barrier securities on S&P, Russell
Chicago, March 30 – Citigroup Global Markets Holdings Inc. priced $1.06 million of 0% dual directional barrier securities due March 21, 2025 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If each index finishes at or above the initial level, the payout at maturity will be the greater of par plus 24.05% and par plus the return of the laggard index.
If the laggard index falls but finishes at or above the 60% barrier level, the payout at maturity will be par plus the absolute value of the laggard index return.
Otherwise, the payout will be par plus the laggard index return, with full exposure to losses.
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: | Dual directional barrier securities
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $1,055,000
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| Maturity: | March 21, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If laggard index finishes at or above the initial level, par plus greater of par plus 24.05% and par plus return of laggard index; if laggard index falls but finishes at or above barrier level, par plus the absolute value of laggard index return; otherwise, par plus laggard index return, with full exposure to losses
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| Initial index levels: | 2,398.10 for S&P, 991.164 for Russell
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| Barrier levels: | 1,438.860 for S&P, 594.698 for Russell, 60% of initial levels
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17328VEC0
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