Published on 8/17/2020 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.82 million dual directional barrier digital notes on S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, Aug. 17 – Citigroup Global Markets Holdings Inc. priced $1.82 million of 0% dual directional barrier digital securities due Aug. 5, 2025 linked to 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 worst performing index finishes at or above its initial level, the payout at maturity will be par plus 105% of the return of the least performing index.
If the worst performing index falls by up to 30%, the payout will be par plus the absolute value of the return of the worst performing index.
Otherwise, investors will be fully exposed to the decline of the least 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: | Dual directional barrier digital securities
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| Underlying indexes: | S&P 500 index and Dow Jones industrial average
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| Amount: | $1,817,000
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| Maturity: | Aug. 5, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the worst performing index finishes at or above its initial level, par plus 105% of return of the least performing index; if the worst performing index falls by up to barrier level, par plus the absolute value of the return of the worst performing index; otherwise, full exposure to decline of the least performing index
|
| Initial levels: | 3,271.12 for S&P, 26,428.32 for Dow
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| Barrier levels: | 2,289.784 for S&P, 18,499.824 for Dow, 70% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 5
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.13%
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| Cusip: | 17328XAC0
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