Published on 12/8/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $926,000 contingent coupon autocallable notes on Nasdaq, S&P
By Wendy Van Sickle
Columbus, Ohio, Dec. 8 – Citigroup Global Markets Holdings Inc. priced $926,000 of contingent coupon autocallable notes due Sept. 6, 2022 linked to the least performing of the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 6.25% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be called if both indexes finish above their initial levels on any quarterly call date after six months.
The payout at maturity will be par unless any index finishes below its 70% barrier level, in which case investors will be exposed to the decline of the least-performing index from its initial level.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Contingent coupon autocallable notes
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| Underlying indexes: | Nasdaq-100 index and S&P 500 index
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| Amount: | $926,000
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| Maturity: | Sept. 6, 2022
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| Coupon: | 6.25% annual rate, payable quarterly if each underlying asset closes at or above its coupon barrier level on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below knock-in level, in which case exposure to decline of least-performing index
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| Call option: | Automatically called if both indexes finish above their initial levels on any quarterly call date after six months
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| Initial levels: | 12,079.81 for Nasdaq, 3,635.41 for S&P
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| Coupon barriers: | 8,455.867 for Nasdaq, 2,544.787 for S&P; 70% of initial levels
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| Barrier levels: | 8,455.867 for Nasdaq, 2,544.787 for S&P; 70% of initial levels
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| Pricing date: | Nov. 24
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| Settlement date: | Nov. 30
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.95%
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| Cusip: | 17328Y4Y7
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