Published on 10/29/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $345,000 autocallable securities linked to Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Oct. 29 – Citigroup Global Markets Holdings Inc. priced $345,000 of 0% autocallable securities due Nov. 1, 2023 linked to the worst performing of the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each index closes at or above its initial level on any annual valuation date, the notes will be called at par plus a premium of 6.5% a year.
If each index finishes at or above its initial level, the payout at maturity will be par plus the return of the lesser-performing index. If the lesser-performing index falls by up to 15%, the payout will be par.
Otherwise, investors will participate in the losses of the worst performer beyond the 15% buffer.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average
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| Amount: | $345,000
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| Maturity: | Nov. 1, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above its initial level, par plus return of lesser performing index; par if lesser-performing index falls by up to 15%; otherwise exposure to losses of worst performer beyond 15% buffer
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| Call: | Automatically at par plus an annualized premium of 6.5% if each index closes at or above its initial level on any annual call date
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| Initial levels: | 1,590.482 for Russell, 27,463.19 for Dow
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| Buffer levels: | 1,351.91 for Russell, 23,343.712 for Dow, 85% of initial levels
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| Pricing date: | Oct. 27
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| Settlement date: | Oct. 30
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17328WRZ3
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