Published on 11/15/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $5.3 million autocallable securities linked to Russell, Dow, S&P
By Taylor Fox
New York, Nov. 16 – Citigroup Global Markets Holdings Inc. priced $5.3 million of 0% autocallable securities due Oct. 30, 2025 linked to the worst performing of 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 quarterly valuation date after one year, the notes will be called at par plus a premium of 8% a year.
If each index finishes at or above its initial level, the payout at maturity will be par plus the 40% premium applicable to the maturity date. If the lesser-performing index falls by up to 40%, the payout will be par.
Otherwise, investors will fully participate in the losses of the worst performer.
Citigroup Global Markets Inc. is the agent.
| 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 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $5,295,000
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| Maturity: | Oct. 30, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above its initial level, par plus 40% premium applicable to the maturity date; par if lesser-performing index falls by up to 40%; otherwise full exposure to losses of worst performer
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| Call: | Automatically at par plus an annualized premium of 8% if each index closes at or above its initial level on any quarterly call date after one year
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| Initial levels: | 1,590.482 for Russell, 27,463.19 for Dow, 3,390.68 for S&P
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| Buffer levels: | 954.289 for Russell, 16,477.914 for Dow, 2,034.408 for S&P; 60% of initial levels
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| Pricing date: | Oct. 27
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| Settlement date: | Oct. 30
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17328WWC8
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