Published on 6/21/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.25 million autocallable securities on S&P, Nasdaq
By Kiku Steinfeld
Chicago, June 22 – Citigroup Global Markets Holdings Inc. priced $1.25 million of 0% autocallable securities due June 17, 2027 linked to the worst performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be called at par plus a premium of 8.75% per year if each asset closes at or above its initial level on any quarterly call valuation date after one year.
The premium for the final valuation date is 61.25% and will be paid if each index closes above its initial level.
Otherwise, the payout at maturity will be par unless any underlying asset finishes below its 70% barrier level, in which case investors will lose 1% for every 1% that the worst performing index declines.
Citigroup Global Markets Inc. is the agent.
| 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 assets: | S&P 500 index, Nasdaq-100 index
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| Amount: | $1,250,000
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| Maturity: | June 17, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 61.25% if each index finishes above initial level; par if least-performing underlying asset falls by up to barrier level; otherwise, 1% loss for every 1% that least performing index declines
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| Call: | At par plus a premium of 8.75% per year if each asset closes at or above its initial value on any quarterly call valuation date after one year
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| Initial levels: | 3,041.31 for S&P, 9,663.774 for Nasdaq,
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| Barrier levels: | 2,128.917 for S&P, 6,764.642 for Nasdaq; 70% of initial values
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| Pricing date: | June 12
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| Settlement date: | June 17
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17328VUF5
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