Published on 12/4/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $5.45 million autocallable securities on Dow, Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 4 – Citigroup Global Markets Holdings Inc. priced $5.45 million of 0% autocallable securities due Nov. 28, 2025 linked to 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 an annual premium of 5%.
If each index finishes at or above its initial level, the payout at maturity will be par plus 25%.
If the least performing index falls but not below its final buffer level, 85% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index beyond 15%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying indexes: | Russell 2000, Dow Jones industrial average
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| Amount: | $5,449,000
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| Maturity: | Nov. 28, 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 initial level, par plus 25%; if worst performing index declines but finishes at or above final buffer level, par; otherwise, 1% loss for each 1% decline of the worst performing index beyond 15%
|
| Call: | Automatically at par plus an annual premium of 5% if each index closes at or above its initial level on any quarterly valuation date after one year
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| Initial levels: | 30,046.24 for Dow, 1,853.532 Russell
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| Final buffer levels: | 25,539.304 for Dow, 1,575.502 for Russell, 85% of initial levels
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| Pricing date: | Nov. 24
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| Settlement date: | Nov. 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17328WQ92
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