Published on 8/21/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $701,000 enhanced barrier digital plus notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Aug. 21 – Citigroup Global Markets Holdings Inc. priced $701,000 of 0% enhanced barrier digital plus securities due Aug. 26, 2025 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 will be guaranteed by Citigroup Inc.
If the final level of each index is greater than its initial level, the payout at maturity will be par plus the greater of the return of the worst performing index and 20.25%.
If any index falls by up to 22.5%, the payout will be par.
If any index falls by more than 22.5%, the payout will be par plus the return of the worst performing index with full exposure to losses.
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: | Enhanced barrier digital plus securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $701,000
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| Maturity: | Aug. 26, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final level of each index is greater than its initial level, par plus the greater of the return of the worst performing index and 20.25%; if any index falls by up to 22.5%, par; if any index falls by more than 22.5%, par plus the return of the worst performing index with full exposure to losses
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| Initial levels: | 3,374.85 for S&P, 1,572.066 for Russell
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| Barrier levels: | 2,615.509 for S&P, 1,218.351 for Russell; 77.5% of initial levels
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| Pricing date: | Aug. 19
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| Settlement date: | Aug. 26
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17328WLJ5
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