Published on 5/21/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $365,000 barrier securities on Russell, Dow, S&P 500
By Kiku Steinfeld
Chicago, May 21 – Citigroup Global Markets Holdings Inc. priced $365,000 of 0% barrier securities due May 20, 2025 linked to the worst performing of the Russell 2000 index, the S&P 500 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.
If the final level of the worse performing index is greater than or equal to its initial level, the payout at maturity will be par plus 1.65 times the return of that index.
If the final level of the worse performing index is less than its initial level but greater than or equal to its 70% barrier level, the payout will be par.
If the final level of the worse performing index is less than the 70% barrier level, investors will be fully exposed to the decline of the worse performing index.
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: | Barrier securities
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average, S&P 500 index
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| Amount: | $365,000
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| Maturity: | May 20, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final level of the worse performing index is greater than or equal to its initial level, par plus 1.65 times the return of that index; if the final level of the worse performing index is less than its initial level but greater than or equal to its 70% barrier level, par; otherwise, full exposure to the decline of the worse performing index
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| Initial levels: | 23,685.42 for Dow, 1,256.992 for Russell, 2,863.70 for S&P 500
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| Barrier levels: | 16,579.794 for Dow, 879.894 for Russell, 2,004.590 for S&P 500; 70% of initial levels
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| Pricing date: | May 15
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| Settlement date: | May 20
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.75%
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| Cusip: | 17328VMX5
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