Published on 11/4/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.89 million autocallable securities linked to Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Nov. 4 – Citigroup Global Markets Holdings Inc. priced $1.89 million of 0% autocallable securities due Oct. 30, 2025 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 quarterly valuation date after one year, the notes will be called at par plus a premium of 3% a year.
If each index finishes at or above 90% of its initial level, the payout at maturity will be par plus the 15% premium applicable to the maturity date.
Otherwise, investors will participate in the losses of the worst performer beyond the 10% 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: | $1,889,000
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| Maturity: | Oct. 30, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above 90% of its initial level, par plus 15%; otherwise exposure to losses of worst performer beyond 10% buffer
|
| Call: | Automatically at par plus an annualized premium of 3% if each index closes at or above its initial level on any quarterly call date after one year
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| Initial levels: | 1,590.482 for Russell, 27,463.19 for Dow
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| Buffer levels: | 1,431.434 for Russell, 24,716.871 for Dow, 90% 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: | 3.5%
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| Cusip: | 17328WWB0
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