Published on 3/30/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.48 million barrier securities on S&P 500, Russell 2000
Chicago, March 30 – Citigroup Global Markets Holdings Inc. priced $2.48 million of 0% barrier securities due March 22, 2023 linked to the worst performing of 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 the final level of the worse performing index is greater than or equal to its initial level, the payout at maturity will be par plus 1.2 times the return of that index
If the final level of the worse performing index is less than its initial level but greater than or equal to its 50% barrier level, the payout will be par.
If the final level of the worse performing index is less than the 50% barrier level, investors will be fully exposed to the decline of the worse performing index.
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: | Barrier securities
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $2,479,000
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| Maturity: | March 22, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final level of the worse performing index is greater than or equal to its initial level, par plus 1.2 times the return of that index,; if the final level of the worse performing index is less than its initial level but greater than or equal to its 50% barrier level, par; otherwise, full exposure to the decline of the worse performing index
|
| Initial levels: | 2,529.19 for S&P, 1,106.506 for Russell
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| Barrier levels: | 1,264.595 for S&P, 553.253 for Russell; 50% of initial levels
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| Pricing date: | March 17
|
| Settlement date: | March 20
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
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| Cusip: | 17328VAM2
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