Published on 11/30/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $957,000 barrier securities on QQQ, S&P
By Wendy Van Sickle
Columbus, Ohio, Nov. 30 – Citigroup Global Markets Holdings Inc. priced $957,000 of 0% barrier securities due Nov. 24, 2025 linked to the worst performing of the S&P 500 index and the Invesco QQQ Trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final level of the worst performing asset is greater than or equal to its initial level, the payout at maturity will be par plus 1.27 times the return of that asset.
If the final level of the worst performing asset is less than its initial level but greater than or equal to its 75% barrier level, the payout will be par.
If the final level of the worst performing asset is less than the 75% barrier level, investors will be fully exposed to the decline of the worst performing asset.
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 securities
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| Underlying assets: | Invesco QQQ Trust, series 1 and S&P 500 index
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| Amount: | $957,000
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| Maturity: | Nov. 24, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final level of the worst performing asset is greater than or equal to its initial level, par plus 1.27 times the return of that asset; if the final level of the worst performing asset is less than its initial level but greater than or equal to its 75% barrier level, par; otherwise, full exposure to the decline of the worst performing asset
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| Initial levels: | $290.38 for QQQ, 3,557.54 for S&P
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| Barrier levels: | $217.785 for QQQ, 2,668.155 for S&P; 75% of initial levels
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| Pricing date: | Nov. 20
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| Settlement date: | Nov. 24
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17328WMP0
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