Published on 12/9/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $530,000 autocallable securities on S&P, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Dec. 9 – Citigroup Global Markets Holdings Inc. priced $530,000 of 0% autocallable securities due Nov. 28, 2025 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each index closes at or above its initial level on any quarterly valuation date after one year, the notes will be called at par plus an annual premium of 9.25%.
If each index finishes at or above its initial level, the payout at maturity will be par plus 46.25%.
If the least performing index falls below the initial level but not below its final barrier level, 70% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
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: | Autocallable securities
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| Underlying indexes: | Nasdaq-100, Russell 2000, S&P 500
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| Amount: | $530,000
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| Maturity: | Nov. 28, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above initial level, par plus 46.25%; if worst performing index declines but finishes at or above final barrier level, par; otherwise, 1% loss for each 1% decline of the worst performing index from its initial level
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| Call: | Automatically at par plus an annual premium of 9.25% if each index closes at or above its initial level on any quarterly valuation date after one year
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| Initial levels: | 3,629.65 for S&P, 1,845.024 Russell, 12,152.21 for Nasdaq
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| Final barrier levels: | 2,540.755 for S&P, 1,291.517 for Russell, 8,506.547 for Nasdaq, 70% of initial levels
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| Pricing date: | Nov. 25
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| Settlement date: | Nov. 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17328Y5F7
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