Published on 10/19/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.12 million dual directional trigger PLUS linked to S&P 500
By Kiku Steinfeld
Chicago, Oct. 19 – Citigroup Global Markets Holdings Inc. priced $2.12 million of 0% dual directional trigger Performance Leveraged Upside Securities due Oct. 5, 2026 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup, Inc.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par of $10 plus 106.75% of the index return. If the index declines by 20% or less, the payout will be par plus the absolute value of the index return. If the index declines by more than 20%, investors will lose 1% for every 1% that the index declines from its initial level.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Dual directional trigger Performance Leveraged Upside Securities
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| Underlying index: | S&P 500
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| Amount: | $2,123,750
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| Maturity: | Oct. 5, 2026
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If final index level is greater than initial index level, par plus 106.75% of index return; if final index level is less than initial index level but greater than or equal to trigger level, par plus absolute value of index return; if final index level is less than trigger level, 1% loss for every 1% that index declines from initial level
|
| Initial index level: | 3,363.00
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| Trigger level: | 2,690.40, 80% of initial level
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| Pricing date: | Sept. 30
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| Settlement date: | Oct. 5
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| Underwriter: | Citigroup Global Markets Inc.
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| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 3.5%
|
| Cusip: | 17327Y287
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