Published on 4/28/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.28 million autocallable securities on S&P, Russell, Dow
By Sarah Lizee
Olympia, Wash., April 28 – Citigroup Global Markets Holdings Inc. priced $2.28 million of 0% autocallable securities due April 24, 2025 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.
If each index closes at or above of its call level on any annual valuation date, the notes will be called at par plus a premium of 14% a year. The call level for each index will be 100% of its initial level.
If each index finishes at or above its initial level, the payout at maturity will be par plus 70%.
If the least performing index finishes below its initial level but not below the barrier level, 65% 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 underwriter.
| 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: | S&P 500, Russell 2000, Dow Jones industrial average
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| Amount: | $2,283,000
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| Maturity: | April 24, 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 its initial level, par plus 70%; if the least performing index finishes below its initial level but not below the barrier level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level
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| Call: | If each index closes at or above its call level on any annual valuation date, the notes will be called at par plus a premium of 14% a year; call level for each index will be 100% of its initial level
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| Initial levels: | 2,736.56 for S&P, 1,185.094 for Russell, 23,018.88 for Dow
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| Final barriers: | 1,778.764 for S&P, 770.311 for Russell, 14,962.272 for Dow; 65% of initial levels
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| Pricing date: | April 21
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| Settlement date: | April 24
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17328VSJ0
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