Published on 6/25/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.65 million autocallable securities on three indexes
By Sarah Lizee
Olympia, Wash., June 25 – Citigroup Global Markets Holdings Inc. priced $1.65 million of 0% autocallable securities due June 20, 2025 linked to the S&P 500 index, the Nasdaq-100 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 semiannual valuation date, the notes will be called at par plus a premium of 8.45% a year.
If each index finishes at or above its initial level the payout will be par plus 42.25%. If the least performing index falls but not below the trigger 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: | S&P 500, Nasdaq-100, Dow Jones industrial average
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Amount: | $1,654,000
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Maturity: | June 20, 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 42.25%; 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 8.45% if each index closes at or above its initial level on any semiannual valuation date after one year
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Initial levels: | 3,113.49 for S&P, 26,119.61 for Dow, 9,982.479 for Nasdaq
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Trigger levels: | 2,179.443 for S&P, 18,283.727 for Dow, 6,987.735 for Nasdaq, 70% of initial levels
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Pricing date: | June 17
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Settlement date: | June 22
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 4.125%
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Cusip: | 17328VPH7
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