Published on 6/12/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.87 million autocallable securities on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, June 12 – Citigroup Global Markets Holdings Inc. priced $1.87 million of 0% autocallable securities due June 12, 2025 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be called at par plus a premium of 9.15% per year if each asset closes at or above its initial level on any annual call valuation date.
The premium for the final valuation date is 45.75% and will be paid if each index closes above its initial level.
Otherwise, the payout at maturity will be par unless either underlying asset finishes below its 70% barrier level, in which case investors will lose 1% for every 1% that the worst performing index declines.
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 assets: | S&P 500 index, Russell 2000 index
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Amount: | $1,871,000
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Maturity: | June 12, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 45.75% if each index finishes above initial level; par if lesser-performing underlying asset falls by up to barrier level; otherwise, 1% loss for every 1% that lesser performing index declines
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Call: | At par plus a premium of 9.15% per year if each asset closes at or above its initial value on any annual call valuation date
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Initial levels: | 3,207.18 for S&P, 1,507.051 for Russell
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Barrier levels: | 2,245.026 for S&P, 1,054.936 for Russell; 70% of initial values
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Pricing date: | June 9
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Settlement date: | June 12
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.125%
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Cusip: | 17328VHS2
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