Published on 10/11/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3.67 million autocallable securities on Dow, Russell, S&P
Chicago, Oct. 12 – Citigroup Global Markets Holdings Inc. priced $3.67 million of 0% autocallable securities due Sept. 19, 2025 linked to the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each index closes at or above its initial level on any annual valuation date, the notes will be called at par plus an annual premium of 12%.
If each index finishes at or above its initial level, the payout at maturity will be par plus 60%.
If the least performing index falls but not below its trigger level, 70% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
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: | Autocallable securities
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| Underlying indexes: | S&P 500, Russell 2000, Dow Jones industrial average
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| Amount: | $3,658,000
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| Maturity: | Sept. 19, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus 60%; if any index falls but not below trigger level, par; otherwise, 1% loss for each 1% decline of the worst performing index from its initial level
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| Call: | Automatically at par plus an annualized premium of 12% if each index closes at or above its initial level on any annual valuation date
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| Initial levels: | 28,032.38 for Dow, 1,552.329 for Russell, 3,385.49 for S&P
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| Trigger levels: | 19,622.666 for Dow, 1,086.630 for Russell, 2,369.843 for S&P, 70% of initial levels
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| Pricing date: | Sept. 16
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| Settlement date: | Sept. 21
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17328WZL5
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