Published on 7/7/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $50,000 autocallable securities on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, July 7 – Citigroup Global Markets Holdings Inc. priced $50,000 of 0% autocallable securities due June 28, 2024 linked to the worst performing of 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 8% 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 150% of the return of the lesser-performing index.
Otherwise, the payout at maturity will be par unless either underlying asset finishes below its 85% buffer level, in which case investors will lose 1% for every 1% that the worst performing index declines beyond the buffer.
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, Russell 2000 index
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| Amount: | $50,000
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| Maturity: | June 28, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 150% of return of laggard index if each index finishes above initial level; par if lesser-performing underlying asset falls by up to buffer level; otherwise, 1% loss for every 1% that lesser performing index declines beyond buffer
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| Call: | At par plus a premium of 8% per year if each asset closes at or above its initial value on any annual call valuation date
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| Initial levels: | 3,083.76 for S&P, 1,413.315 for Russell
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| Buffer levels: | 2,621.196 for S&P, 1,201.318 for Russell; 85% of initial values
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17328VWT3
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