Published on 10/27/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $550,000 barrier digital plus notes linked to indexes
By Kiku Steinfeld
Chicago, Oct. 27 – Citigroup Global Markets Holdings Inc. priced $550,000 of 0% barrier digital plus securities due Oct. 23, 2025 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the least-performing index is greater than or equal to its initial level, the payout at maturity will be par plus the greater of the least-performing index’s return and 41.55%.
If the final level of the least-performing index is less than its initial level but greater than or equal to its barrier value, 60% of its initial level, the payout will be par.
If the final level of the least-performing index is less than its barrier value, investors will be exposed to the decline of the least-performing index from its initial level.
The notes will be 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 digital plus securities
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| Underlying indexes: | S&P 500, Nasdaq-100 and Dow Jones industrial average
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| Amount: | $550,000
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| Maturity: | Oct. 23, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of least-performing index is greater than or equal to initial level, par plus greater of least-performing index’s return and 41.55%; if final level of least-performing index is less than initial level but greater than or equal to barrier value, par; if final level of least-performing index is less than barrier value, exposure to decline of least-performing index from initial level
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| Initial levels: | 3,443.12 for S&P 500, 11,677.84 for Nasdaq-100 and 28,308.79 for Dow
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| Barrier values: | 2,065.872 S&P 500, 7,006.704 for Nasdaq-100 and 16,985.274 for Dow, or 60% of initial levels
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| Pricing date: | Oct. 20
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| Settlement date: | Oct. 23
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.85%
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| Cusip: | 17328WX45
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