Published on 5/27/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.14 million autocallable securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, May 27 – Citigroup Global Markets Holdings Inc. priced $2.14 million of 0% autocallable securities due May 22, 2025 linked to the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
After one year, if each index closes at or above its initial level on any annual valuation date, the notes will be called at par plus a premium of 13.65% a year.
If each index finishes at or above its initial level the payout will be par plus 68.25%. If the least performing index falls but not below the trigger level, 65% 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: | S&P 500, Russell 2000, Dow Jones industrial average
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Amount: | $2,144,000
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Maturity: | May 22, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above its initial level par plus 68.25%; if any index falls but not below trigger 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 annualized premium of 13.65% if each index closes at or above its initial level on any annual valuation date after one year
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Initial levels: | 2,922.94 for S&P, 1,307.719 for Russell, 24,206.86 for Dow
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Trigger levels: | 1,899.911 for S&P, 850.017 for Russell, 15,734.459 for Dow; 65% of initial levels
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Pricing date: | May 19
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Settlement date: | May 22
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 4.125%
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Cusip: | 17328VSL5
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