Published on 9/22/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.77 million autocallable securities on Dow, Russell, S&P
By Wendy Van Sickle
Chicago, Sept. 22 – Citigroup Global Markets Holdings Inc. priced $2.77 million of 0% autocallable securities due Sept. 15, 2025 linked to the worst performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Global Markets Inc.
The notes are called at par plus a premium of 8.25% per year if each asset closes at or above 100% of its initial level on any annual call valuation date.
The payout at maturity will be the 41.25% premium applicable to that valuation date if the worst performing index closes above 100% of its initial value.
The payout at maturity will be par if the worst performing index finishes above its 65% trigger level and below 100% of its initial value, otherwise investors will be exposed to losses of the worst performing index.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Autocallable securities
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| Underlying assets: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
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| Amount: | $2,768,000
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| Maturity: | Sept. 15, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 41.25% call premium if worst performing asset finishes above 100% of initial level; par if worst performing asset finishes below 100% of initial value but above 65% trigger level; otherwise exposure to losses of worst performing index
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| Call: | At par plus a premium of 8.25% per year if each asset closes at or above 100% of its initial value on any annual call valuation date
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| Initial values: | 27,534.58 for Dow, 1,507.751 for Russell, 3,339.19 for S&P
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| Trigger values: | 17,897.477 for Dow, 980.038 for Russell, 2,170.474 for S&P; 65% of initial values
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| Pricing date: | Sept. 10
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| Settlement date: | Sept. 15
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17328WDL9
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