Published on 8/3/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.08 million autocallable securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 3 – Citigroup Global Markets Holdings Inc. priced $2.08 million of 0% autocallable securities due July 31, 2026 linked to the worst performing of the Russell 2000 index, the Dow Jones industrial average 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 notes will be called at par plus a premium of 12.5% a year if each asset closes at or above its call level on any annual call valuation date. The call level will be 92% of the initial level on the first three call dates and 100% of the initial level on the subsequent call dates.
If each index finishes at or above its trigger level, 75% of its initial level, the payout at maturity will be par.
Otherwise, 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.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying assets: | Russell 2000 index, Dow Jones industrial average, S&P 500 index
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| Amount: | $2,083,000
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| Maturity: | July 31, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, 1% loss for every 1% that the worst performing index declines
|
| Call: | At par plus a premium of 12.5% per year if each asset closes at or above its call value on any annual call valuation date
|
| Call level: | 92% of initial level on first three call dates; 100% of initial level on each subsequent date
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| Initial levels: | 26,469.89 for Dow, 3,215.63 for S&P, 1,467.555 for Russell
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| Trigger levels: | 19,852.418 for Dow, 2,411.723 for S&P, 1,100.666 for Russell; 75% of initial values
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| Pricing date: | July 24
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| Settlement date: | July 31
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0%
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| Cusip: | 17328W5P9
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