Published on 11/18/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.66 million contingent coupon autocalls on S&P, Russell, Dow
By Taylor Fox
New York, Nov. 18 – Citigroup Global Markets Holdings Inc. priced $3.66 million of autocallable contingent coupon and contingent downside securities due Oct. 29, 2024 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 are guaranteed by Citigroup Global Markets Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 11.15% if the index closes at or above its 80% coupon barrier on the related quarterly review date, plus any previously unpaid coupon.
The notes will be called at par if the lowest performing index closes at or above its initial value on a quarterly call date starting after six months.
The payout at maturity will be par unless the lowest performing index finishes below its 80% barrier level, in which case investors will lose 1% for every 1% that index falls.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon and contingent downside securities
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| Underlying indexes: | S&P 500 index, the Russell 2000 index and Dow Jones industrial average
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| Amount: | $3,662,000
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| Maturity: | Oct. 29, 2024
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| Coupon: | 11.15% annualized, payable quarterly if each index closes at or above coupon barrier on related quarterly review date
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below final barrier, in which case investors will lose 1% for each 1% that index falls
|
| Call: | At par if each index closes at or above its initial value on a quarterly call date after six months
|
| Initial prices: | 3,310.11 for S&P, 1,561.577 for Russell and 26,659.11 for Dow
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| Coupon barriers: | 2,648.088 for S&P, 1,249.2616 for Russell and 21,327.288 for Dow, 80% of initial price
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| Final barriers: | 2,648.088 for S&P, 1,249.2616 for Russell and 21,327.288 for Dow, 80% of initial price
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| Pricing date: | Oct. 29
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| Settlement date: | Nov. 3
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.175%
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| Cusip: | 17328WP36
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