Published on 7/20/2020 in the Prospect News Structured Products Daily.
New Issue: Citi prices $500,000 dual directional barrier notes tied to S&P, Nasdaq, Dow
By Kiku Steinfeld
Chicago, July 20 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% dual directional barrier securities due Jan. 19, 2024 linked to the lesser performing of the Nasdaq-100 index, the S&P 500 index and the Dow Jones industrial average, 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 1.33 times the gain of the worst performing index.
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.
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| Guarantor: | Citigroup Inc.
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| Issue: | Dual directional barrier securities
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| Underlying indexes: | Nasdaq-100, S&P 500 index and Dow Jones industrial average
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| Amount: | $500,000
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| Maturity: | Jan. 19, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If each index gains, par plus 1.33 times return of worst performing index; 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
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| Initial levels: | 26,870.10 for Dow, 10,701.680 for Nasdaq, 3,226.56 for S&P
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| Trigger levels: | 20,152.575 for Dow, 2,419.920 for S&P and 8,026.260 for Nasdaq; 75% of initial levels
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| Pricing date: | July 15
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| Settlement date: | July 20
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17328W6C7
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