Published on 2/20/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $701,000 step-down trigger autocalls on two indexes
By Sarah Lizee
Olympia, Wash., Feb. 20 – Citigroup Global Markets Holdings Inc. priced $701,000 of 0% step-down trigger autocallable notes due Feb. 20, 2025 linked to the Russell 2000 index and the FTSE 100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
After one year, the notes will be automatically called at par of $10 plus 9.9% per year if each asset closes at or above its initial level on any quarterly observation date, except the final one when the call threshold will be the 75% downside threshold level.
If the notes are not subject to an automatic call, that means the final level of at least one asset will be less than its downside threshold, 75% of its initial level, and investors will be exposed to the decline of the lesser-performing asset from its initial level.
UBS Financial Services Inc. and Citigroup Global Markets Inc. the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Step-down trigger autocallable notes
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| Underlying indexes: | Russell 2000 index and FTSE 100 index
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| Amount: | $701,000
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| Maturity: | Feb. 20, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | After one year, at par plus 9.9% per year if each asset closes at or above its initial level on any observation date except the final one, when the call level will be the downside threshold
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| Payout at maturity: | Full exposure to decline of lesser-performing asset from initial level
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| Initial levels: | 1,687.584 for Russell, 7,409.13 for FTSE
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| Downside thresholds: | 1,265.688 for Russell, 5,556.848 for FTSE, 75% of initial levels
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| Pricing date: | Feb. 14
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| Settlement date: | Feb. 20
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| Agents: | UBS Financial Services Inc. and Citigroup Global Markets Inc.
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| Fees: | None
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| Cusip: | 17327U889
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