Published on 11/12/2020 in the Prospect News Structured Products Daily.
New Issue: Citi sells $792,000 contingent coupon autocalls on Nasdaq, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Nov. 12 – Citigroup Global Markets Holdings Inc. priced $792,000 of autocallable contingent coupon equity-linked securities due Oct. 31, 2025 linked to the least performing of the Nasdaq-100 index, the Russell 2000 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.
The notes will pay a contingent quarterly coupon at an annual rate of 6.9% if each index closes at or above its 70% coupon barrier value on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly call review date after one year.
The payout at maturity will be par plus any coupon unless any index finishes below its 70% final barrier level, in which case investors will be exposed to the decline of the worst performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $792,000
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| Maturity: | Oct. 31, 2025
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| Coupon: | 6.9% annualized, payable quarterly if each index closes at or above coupon barrier on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above final barrier level, par plus any coupon; otherwise, 1% loss for each 1% decline of worse performing index
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| Call: | At par if each index closes at or above its initial level on any quarterly call review date after one year
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| Initial levels: | 26,519.95 for Dow, 1,543.275 Russell, 11,142.76 for Nasdaq
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| Coupon barriers: | 18,563.965 for Dow, 1,080.293 for Russell, 7,779.932 for Nasdaq, 70% of initial levels
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| Final barrier level levels: | 18,563.965 for Dow, 1,080.293 for Russell, 7,779.932 for Nasdaq, 70% of initial levels
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| Pricing date: | Oct. 28
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| Settlement date: | Nov. 2
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17328WS41
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