Published on 9/23/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $20,000 dual directional buffer securities on four stocks
By Wendy Van Sickle
Columbus, Ohio, Sept. 23 – Citigroup Global Markets Holdings Inc. priced $20,000 of 0% dual directional buffer securities due Sept. 18, 2025 linked to the shares of Amazon.com, Inc., Apple Inc., Facebook, Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the least performing asset finishes above its initial level, the payout at maturity will be par plus the gain of that asset.
If the least-performing asset finishes flat or falls by up to 35%, payout will be par plus the absolute value of that asset’s return. Otherwise, investors will lose 1% for every 1% decline of the least performing asset beyond 35%.
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: | Dual directional buffer securities
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| Underlying assets: | Amazon.com, Inc., Apple Inc., Facebook, Inc. and Netflix, Inc.
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| Amount: | $20,000
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| Maturity: | Sept. 18, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any gain of least performing asset; if least performing asset falls by up to 35%, par plus absolute value of that asset’s return; otherwise, 1% loss for every 1% decline of least performing asset beyond 35%
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| Initial levels: | $3,156.13 for Amazon, $115.54 for Apple, $272.42 for Facebook, $495.99 for Netflix
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| Buffer levels: | $2,051.485 for Amazon, $75.101 for Apple, $177.073 for Facebook, $322.394 for Netflix, 65% of initial levels
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| Pricing date: | Sept. 15
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| Settlement date: | Sept. 18
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17324XW63
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