Published on 4/14/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $513,000 barrier securities on Dow, S&P
By Wendy Van Sickle
Columbus, Ohio, April 14 – Citigroup Global Markets Holdings Inc. priced $513,000 of 0% barrier securities due March 31, 2025 linked to the worst performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final level of the worst performing index is greater than or equal to its initial level, the payout at maturity will be par plus 1.4 times the return of that index.
If the final level of the worst performing index is less than its initial level but greater than or equal to its 70% barrier level, the payout will be par.
If the final level of the worst performing index is less than the 70% barrier level, investors will be fully exposed to the decline of the worst performing index.
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: | Barrier securities
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| Underlying indexes: | Dow Jones industrial average, S&P 500 index
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| Amount: | $513,000
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| Maturity: | March 31, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final level of the worst performing index is greater than or equal to its initial level, par plus 1.4 times the return of that index; if the final level of the worst performing index is less than its initial level but greater than or equal to its 60% barrier level, par; otherwise, full exposure to the decline of the worst performing index
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| Initial levels: | 21,413.44 for Dow, 2,526.9 for S&P
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| Barrier levels: | 14,989.408 for Dow, 1,768.83 for S&P; 70% of initial levels
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| Pricing date: | April 2
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| Settlement date: | April 7
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17328VHB9
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