Published on 1/6/2020 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.43 million trigger step notes linked to index basket
By Sarah Lizee
Olympia, Wash., Jan. 6 – Citigroup Global Markets Holdings Inc. priced $1.43 million of 0% trigger step securities due Jan. 2, 2024 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei 225 index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
If the basket return is zero or positive, the payout at maturity will be par of $10 plus the greater of the basket return and the step return of 44%.
Investors will receive par if the basket declines by 30% or less and will lose 1% for each 1% decline from its initial level if the basket falls more than 30%.
UBS Financial Services Inc. and Citigroup Global Markets Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Trigger step securities
|
| Underlying index: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei 225 (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
|
| Amount: | $1,434,200
|
| Maturity: | Jan. 2, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket return is zero or positive, par plus greater of 44% and return; par if basket declines by up to 30%; 1% loss for each 1% decline if basket falls beyond 30%
|
| Initial levels: | 3,782.27 for Stoxx, 7,644.90 for FTSE, 23,837.70 for Nikkei, 10,730.15 for Swiss, 6,821.653 for S&P/ASX, 28,225.42 for Hang Seng
|
| Pricing date: | Dec. 27
|
| Settlement date: | Dec. 31
|
| Agents: | UBS Financial Services Inc. and Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17327U806
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
