Published on 11/2/2020 in the Prospect News Structured Products Daily.
New Issue: Citi sells $130,000 3% autocallable equity-linked notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Nov. 2 – Citigroup Global Markets Holdings Inc. priced $130,000 of 3% autocallable equity-linked securities due Oct. 30, 2025 tied to the worst performing of the Nasdaq-100 index, 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.
Interest is payable monthly.
The notes will be automatically redeemed at par plus the coupon if each index closes at or above its initial level on any quarterly review date after one year.
If the notes are not called and the final level of each index is at least 52% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the lesser performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable equity-linked securities
|
| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
|
| Amount: | $130,000
|
| Maturity: | Oct. 30, 2025
|
| Coupon: | 3%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if each index finishes above 52% of its initial value; otherwise, 1% loss for every 1% decline
|
| Call: | At par plus the coupon if each index closes at or above its initial level on any quarterly review date after one year
|
| Initial levels: | 3,390.68 for S&P, 1,590.482 for Russell and 11,598.95 for Nasdaq
|
| Downside thresholds: | 1,763.154 for S&P, 827.051 for Russell and 6,031.454 for Nasdaq, 52% of initial levels
|
| Pricing date: | Oct. 27
|
| Settlement date: | Oct. 30
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17328WXN3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
