Published on 7/29/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $800,000 barrier securities linked to indexes
By Wendy Van Sickle
Columbus, Ohio, July 29 – Citigroup Global Markets Holdings Inc. priced $800,000 of 0% barrier securities due July 29, 2025 linked to the worst performing of the Dow Jones industrial average, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The payout at maturity will be par plus 130% of the worst performing index if all three underliers finish above their initial levels.
If the worst performer declines, but not more than 50%, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the decline of the worst 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: | Dow Jones industrial average, Nasdaq-100 and the S&P 500
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Amount: | $800,000
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Maturity: | July 29, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 130% of return of worst performing index, if all three finish positive; par if worst performer declines, but not more than 50%; otherwise full exposure to decline of worst performer
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Initial index levels: | 26,469.89 for Dow, 10,483.13 for Nasdaq, 3,215.63 for S&P
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Barrier levels: | 13,234.945 for Dow, 5,241.565 for Nasdaq, 1,607.815 for S&P; 50% of initial levels
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Pricing date: | July 24
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Settlement date: | July 29
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17328W2W7
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