Published on 6/26/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $985,000 autocallable securities on S&P, Nasdaq, Dow
By Wendy Van Sickle
Columbus, Ohio, June 26 – Citigroup Global Markets Holdings Inc. priced $985,000 of 0% autocallable securities due June 24, 2025 linked to the worst performing of the Dow Jones industrial average, 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 10.85% annualized if each asset closes at or above its initial level on any annual call valuation date.
If each index finishes above its initial level, the payout at maturity will be par plus 54.25%.
Otherwise, the payout at maturity will be par unless either underlying asset finishes below its 70% trigger 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: | Dow Jones industrial average, S&P 500 index, Nasdaq-100 index
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| Amount: | $985,000
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| Maturity: | June 24, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 54.25% if each index finishes above initial level; par if least-performing underlying asset falls by up to trigger level; otherwise, 1% loss for every 1% that least performing index
|
| Call: | At par plus a premium of 10.85% per year if each asset closes at or above its initial value on any annual call valuation date
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| Initial levels: | 3,097.74 for S&P, 10,008.64 for Nasdaq, 25,871.46 for Dow
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| Trigger levels: | 2,168.418 for S&P, 7,006.048 for Nasdaq, 18,110.022 for Dow; 70% of initial values
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| Pricing date: | June 19
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| Settlement date: | June 24
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17328VR85
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