Published on 7/15/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $500,000 autocallable securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, July 15 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% autocallable securities due July 7, 2025 linked to the worst performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 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 8.5% a year if each asset closes at or above its call level on any quarterly call valuation date after one year. The call level for each index will be 100% of its initial level on the first call date and will step down by 2.5% on each subsequent call date.
If each index finishes at or above its trigger level, 60% of its initial level, the payout at maturity will be par plus 42.5%.
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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying assets: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
|
| Amount: | $500,000
|
| Maturity: | July 7, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger level, par plus 42.5%; otherwise, 1% loss for every 1% that the worst performing index declines
|
| Call: | At par plus a premium of 8.5% per year if each asset closes at or above its call value on any quarterly call valuation date after one year; call levels will be equal to initial levels on first call date and step down by 2.5% each quarter
|
| Initial levels: | 1,427.314 for Russell, 3,115.86 for S&P, 25,734.97 for Dow
|
| Trigger levels: | 856.388 for Russell, 1,869.516 for S&P, 15,440.982 for Dow; 60% of initial values
|
| Pricing date: | July 1
|
| Settlement date: | July 7
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17328W4F2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
