Published on 7/15/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $200,000 barrier securities tied to Dow, Russell
By Wendy Van Sickle
Columbus, Ohio, July 15 – Citigroup Global Markets Holdings Inc. priced $200,000 of 0% barrier securities due July 10, 2025 linked to the worse performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus 110% of the gain of the worse performing asset.
If either asset falls by up to 40%, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the lesser performing index.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Barrier securities
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Underlying indexes: | Dow Jones industrial average, Russell 2000 index
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Amount: | $200,000
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Maturity: | July 10, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus 110% of return of worse performing asset; if either asset falls by up to 40%, par; otherwise, 1% loss per 1% drop of lesser performing asset
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Initial levels: | 3,097.74 for S&P, 1,431.86 for Russell
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Barrier levels: | 15,496.416 for S&P, 859.116 for Russell, 60% of initial levels
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Pricing date: | July 2
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Settlement date: | July 10
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 3%
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Cusip: | 17328W5W4
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