Published on 5/22/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $8.45 million autocallable securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, May 22 – Citigroup Global Markets Holdings Inc. priced $8.45 million of 0% autocallable securities due May 23, 2024 linked to the S&P 500 index, the Russell 2000 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
After one year, if each index closes at or above its initial level on any semiannual valuation date, the notes will be called at par plus a premium of 18.5% a year.
If each index finishes at or above its initial level the payout will be par plus 74%. If the least performing index falls but not below the trigger 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 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, MSCI Emerging Markets index
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Amount: | $8.45 million
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Maturity: | May 23, 2024
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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 74%; if any index falls but not below trigger level, par; otherwise, 1% loss for each 1% decline of the worst performing index from its initial level
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Call: | Automatically at par plus an annualized premium of 18.5% if each index closes at or above its initial level on any semiannual valuation date after one year
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Initial levels: | 2,863.7 for S&P, 1,256.992 for Russell, 901.16 for EM
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Trigger levels: | 2,004.59 for S&P, 879.894 for Russell, 630.812 for EM; 70% of initial levels
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Pricing date: | May 15
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Settlement date: | May 22
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 2%
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Cusip: | 17328VNZ9
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