Published on 6/9/2020 in the Prospect News Structured Products Daily.
New Issue: Citi sells $509,000 dual directional barrier securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, June 9 – Citigroup Global Markets Holdings Inc. priced $509,000 of 0% dual directional barrier securities due Dec. 4, 2023 linked to the Russell 2000 index, the S&P 500 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 worst performing index finishes at or above its initial level, the payout at maturity will be par plus 134% of the return of the least performing index.
If the worst performing index falls by up to 30%, the payout will be par plus the absolute value of the return of the worst performing index.
Otherwise, investors will be fully exposed to the decline of the least 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: | Dual directional barrier securities
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| Underlying indexes: | Russell 2000 index, S&P 500 index and Dow Jones industrial average
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| Amount: | $509,000
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| Maturity: | Dec. 4, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the worst performing index finishes at or above its initial level, par plus 134% of return of the least performing index; if the worst performing index falls by up to barrier level, par plus the absolute value of the return of the worst performing index; otherwise, full exposure to decline of the least performing index
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| Initial levels: | 3,044.31 for S&P, 25,383.11 for Dow, 1,394.035 for Russell
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| Barrier levels: | 2,131.017 for S&P, 17,768.177 for Dow, 975.825 for Russell, 70% of initial levels
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| Pricing date: | May 29
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| Settlement date: | June 3
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.95%
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| Cusip: | 17328VUG3
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