Published on 12/20/2020 in the Prospect News Structured Products Daily.
New Issue: Citi prices $580,000 dual directional barrier notes tied to S&P, Russell
By Taylor Fox
New York, Dec. 21 – Citigroup Global Markets Holdings Inc. priced $580,000 of 0% dual directional barrier securities due Dec. 15, 2025 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above the initial level, the payout at maturity will be par plus the gain of the worst performing index, subject to a maximum return of par plus 17.4%.
If any index falls by up to its 75% barrier level, the payout at maturity will be par plus the absolute value of the return of the worst performing index.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
|
Guarantor: | Citigroup Inc.
|
Issue: | Dual directional barrier securities
|
Underlying indexes: | S&P 500 index and Russell 2000 index
|
Amount: | $580,000
|
Maturity: | Dec. 15, 2025
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If each index gains, par plus the return of worst performing index, capped at par plus 17.4%; if any index falls by up to 25%, par plus absolute return of worst performing index; otherwise, 1% loss for each 1% decline of worst performing index
|
Initial levels: | 3,668.10 for S&P and 1,922.703 for Russell
|
Trigger levels: | 2,751.075 for S&P and 1,442.027 for Russell; 75% of initial levels
|
Pricing date: | Dec. 10
|
Settlement date: | Dec. 15
|
Agent: | Citigroup Global Markets Inc.
|
Fees: | 4.125%
|
Cusip: | 17328YDX9
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.