Published on 11/6/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $8.19 million autocallable securities on S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Nov. 6 – Citigroup Global Markets Holdings Inc. priced $8.19 million of 0% autocallable securities due May 5, 2022 linked to 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.
If each index closes at or above its call level on any semiannual valuation date, the notes will be called at par plus a premium of 12% a year. The call level will be 95% of the initial level on the first call date and will step down by 5% on each of the two subsequent call dates.
If each index finishes at or above 85% of its initial level, the payout at maturity will be par plus 18%. If the least-performing index finishes below 85% of its initial level but not below its buffer level, 80% of its initial level, the payout will be par.
Otherwise, investors will lose 1.25% for each 1% decline of the least-performing index beyond 20%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | Nasdaq-100, S&P 500, Dow Jones industrial average
|
| Amount: | $8,186,000
|
| Maturity: | May 5, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above 85% of its initial level, par plus 18%; if any index finishes below 85% of its initial level but no index finishes below its buffer level, par; otherwise, 1.25% loss for each 1% decline of the least-performing index beyond 25%
|
| Call: | Automatically at par plus an annualized premium of 12% if each index closes at or above its call level on any semiannual valuation date; call level will be 95% of initial level on first call date and will step down by 5% on each of two subsequent call dates
|
| Initial levels: | 3,310.24 for S&P, 11,084.76 for Nasdaq
|
| Buffer levels: | 2,648.192 for S&P, 8,867.808 for Nasdaq, 80% of initial levels
|
| Pricing date: | Nov. 2
|
| Settlement date: | Nov. 5
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.05%
|
| Cusip: | 17328WYS1
|
|
|
© 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.
