Published on 4/22/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $11.22 million step down trigger autocallables on Dow, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, April 22 – Citigroup Global Markets Holdings Inc. priced $11.22 million of 0% step down trigger autocallable notes due April 23, 2025 linked to the lesser performing of the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus 9.7% per year if each index closes at or above its initial level on a quarterly observation date after one year or closes at or above its downside threshold on April 17, 2025, the final valuation date. The downside threshold for each index is 70% of its initial level.
If the notes are not subject to an automatic call, investors will be exposed to the decline of the lesser-performing index from its initial level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the underwriters.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | Dow Jones industrial average and Nasdaq-100
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| Amount: | $11,218,900
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| Maturity: | April 23, 2025
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Full exposure to decline of lesser-performing index from initial level
|
| Call: | Automatically at par plus 9.7% per year if each index closes at or above initial level on any quarterly valuation date after one year or closes at or above downside threshold on April 17, 2025
|
| Initial levels: | 24,242.49 for Dow and 8,832.414 for Nasdaq-100
|
| Downside thresholds: | 16,969.74 for Dow and 6,182.69 for Nasdaq-100, or 70% of initial levels
|
| Pricing date: | April 17
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| Settlement date: | April 22
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| Underwriters: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 17327U582
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