Published on 7/2/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.65 million autocallable securities on three indexes
By Sarah Lizee
Olympia, Wash., July 2 – Citigroup Global Markets Holdings Inc. priced $1.65 million of 0% autocallable securities due July 1, 2026 linked to the worst performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 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 9% annualized if each asset closes at or above 85% of its initial level on any annual call valuation date.
If each index finishes above 85% of its initial level, the payout at maturity will be par plus 54%.
If either index falls by more than 15% but not by more than 25%, the payout will be par.
Otherwise, 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, Russell 2000 index
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| Amount: | $1,645,000
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| Maturity: | July 1, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above 85% of its initial level, par plus 54%; if either index falls by more than 15% but not by more than 25%, par; otherwise, investors will lose 1% for every 1% that the worst performing index declines
|
| Call: | At par plus a premium of 9% per year if each asset closes at or above its call value on any annual call valuation date
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| Initial levels: | 3,050.33 for S&P, 1,389.741 for Russell, 25,445.94 for Dow
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| Call levels: | 2,592.781 for S&P, 1,181.28 for Russell, 21,629.049 for Dow; 85% of initial levels
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| Trigger levels: | 2,287.748 for S&P, 1,042.306 for Russell, 19,084.455 for Dow; 75% of initial values
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| Pricing date: | June 24
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| Settlement date: | July 1
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | None
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| Cusip: | 17328VUR9
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