Published on 1/27/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.28 million barrier securities on Russell 2000, Dow
By Wendy Van Sickle
Columbus, Ohio, Jan. 27 – Citigroup Global Markets Holdings Inc. priced $1.28 million of 0% barrier securities due Jan. 27, 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 are guaranteed by Citigroup Inc.
If the final level of the worse performing index is greater than or equal to its initial level, the payout at maturity will be par plus 3 times the return of that index up to a maximum payout of par plus 70%.
If the final level of the worse performing index is less than its initial level but greater than or equal to its 70% barrier level, the payout will be par.
If the final level of the worse performing index is less than the 70% barrier level, investors will be fully exposed to the decline of the worse performing index.
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 indexes: | Russell 2000, Dow Jones industrial average
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| Amount: | $1,282,000
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| Maturity: | Jan. 27, 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 worse performing index is greater than or equal to its initial level, par plus 3 times the return of that index up to a maximum payout of par plus 70%; if the final level of the worse performing index is less than its initial level but greater than or equal to its 70% barrier level, par; otherwise, full exposure to the decline of the worse performing index
|
| Initial levels: | 1,684.463 for Russell, 29,186.27 for Dow
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| Barrier levels: | 1,179.124 for Russell, 29,186.27 for Dow; 70% of initial levels
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| Pricing date: | Jan. 22
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| Settlement date: | Jan. 27
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17327T6L5
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