Published on 6/12/2020 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.68 million dual directional barrier securities on Stoxx 50, EAFE ETF
By Wendy Van Sickle
Columbus, Ohio, June 12 – Citigroup Global Markets Holdings Inc. priced $1.68 million of 0% dual directional barrier securities due June 10, 2025 linked to the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the worst performing asset finishes at or above its initial level, the payout at maturity will be par plus 180% of the return of the least performing asset.
If the worst performing asset falls by up to 30%, the payout will be par plus the absolute value of the return of the worst performing asset.
Otherwise, investors will be fully exposed to the decline of the least performing asset.
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 assets: | Euro Stoxx 50 index and iShares MSCI EAFE ETF
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| Amount: | $1,677,000
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| Maturity: | June 10, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the worst performing asset finishes at or above its initial level, par plus 180% of return of the least performing asset; if the worst performing asset falls by up to barrier level, par plus the absolute value of the return of the worst performing asset; otherwise, full exposure to decline of the least performing asset
|
| Initial levels: | 3,269.59 for Stoxx, $63.01 for ETF
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| Barrier levels: | 2,288.713 for Stoxx, $44.107 for ETF, 70% of initial levels
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| Pricing date: | June 3
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| Settlement date: | June 10
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17328VNA4
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