Published on 11/15/2020 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.88 million autocallable securities on Nasdaq, Dow, S&P
By Taylor Fox
New York, Nov. 16 – Citigroup Global Markets Holdings Inc. priced $1.88 million of 0% autocallable securities due Oct. 30, 2025 linked to the worst performing of the Dow Jones industrial average, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be automatically called at par plus an annual 7.7% premium if each index closes at or above its initial level on any annual call observation date.
The payout at maturity will be par plus 38.5% if all three indexes finish above their initial levels.
If any index declines but finishes above its barrier level, 65% of its initial level, investors will receive par.
Otherwise, investors will lose 1% for every 1% decline of the least performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | Dow Jones industrial average, S&P 500 index and Nasdaq-100 index
|
| Amount: | $1,882,000
|
| Maturity: | Oct. 30, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 38.5% if all three indexes finish above initial level; par if worst performer declines but finishes above 65% of initial level; otherwise, full exposure to losses of worst performer
|
| Call: | Automatically at par plus an annual 7.7% premium if each index closes above initial level on any annual call observation date
|
| Initial levels: | 11,662.91 for Nasdaq, 28,363.66 for Dow, 3,453.49 for S&P
|
| Final barrier levels: | 7,580.892 for Nasdaq, 18,436.379 for Dow, 2,244.769 for S&P; 65% of initial levels
|
| Pricing date: | Oct. 22
|
| Settlement date: | Oct. 27
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4.125%
|
| Cusip: | 17328WWP9
|
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