Published on 1/17/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $70,000 autocallable securities on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Jan. 17 – Citigroup Global Markets Holdings Inc. priced $70,000 of 0% autocallable securities due Jan. 21, 2025 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be called at par plus a premium of 8.5% per year if each asset closes at or above its initial level on any annual call valuation date.
The premium for the final valuation date is 42.5% and will be paid if each index closes above its initial level.
Otherwise, the payout at maturity will be par unless either underlying asset finishes below its 60% trigger level, in which case investors will be fully exposed to losses of the worst performing index
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 assets: | S&P 500 index, Russell 2000 index
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| Amount: | $70,000
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| Maturity: | Jan. 21, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 42.5% if each index finishes above initial level; par if lesser-performing underlying asset falls by up to 40%; full exposure to losses of lesser-performing asset beyond 40%
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| Call: | After one year at par plus a premium of 8.5% per year if each asset closes at or above its initial value on any annual call valuation date
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| Initial index levels: | 1,682.396 for Russell, 3,289.29 for S&P
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| Trigger levels: | 1,009.438 for Russell, 1,973.574 for S&P, 60% of initial levels
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| Pricing date: | Jan. 15
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| Settlement date: | Jan. 21
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17327TD60
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