Published on 7/1/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $534,000 autocallable securities on three stocks
By Wendy Van Sickle
Columbus, Ohio, July 1 – Citigroup Global Markets Holdings Inc. priced $534,000 of 22.5% autocallable securities due June 24, 2025 linked to the worst performing of the Wynn Resorts, Ltd., the Capital One Financial Corp. and the TripAdvisor, Inc., 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 called at par if each asset closes at or above its initial level on any monthly call valuation date after three months.
If each stock finishes above its initial level, the payout at maturity will be par.
Otherwise, the payout at maturity will be par unless any underlying asset finishes below its 50% trigger level, in which case investors will lose 1% for every 1% that the worst performing stock declines, payable in shares.
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: | Autocallable securities
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| Underlying assets: | Wynn Resorts, Ltd., Capital One Financial Corp., TripAdvisor, Inc.
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| Amount: | $534,000
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| Maturity: | June 24, 2025
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| Coupon: | 22.5%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par if each stock finishes above initial level; par if least-performing underlying asset falls by up to trigger level; otherwise, 1% loss for every 1% that least performing stock, payable in shares
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| Call: | At par if each asset closes at or above its initial value on any monthly call valuation date after three months
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| Initial levels: | $68.30 for Capital One, $18.18 for TripAdvisor, $83.32 for Wynn
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| Trigger levels: | $34.15 for Capital One, $9.09 for TripAdvisor, $41.66 for Wynn; 50% of initial values
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| Pricing date: | June 22
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| Settlement date: | June 25
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.875%
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| Cusip: | 17324XK33
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