Published on 7/8/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $350,000 autocallable securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, July 8 – Citigroup Global Markets Holdings Inc. priced $350,000 of 0% autocallable securities due June 29, 2023 linked to the worst performing of the Dow Jones industrial average, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be called at par plus a premium of 9.75% a year if each asset closes at or above its call level on any annual call valuation date. The call level for each index will be 100% of its initial level.
If each index finishes above its initial level, the payout at maturity will be par plus 29.25%.
If the least performing index falls by up to 30%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines.
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: | Dow Jones industrial average, Nasdaq-100 index, S&P 500 index
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| Amount: | $350,000
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| Maturity: | June 29, 2023
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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 29.25%; if least performing index falls by up to 30%, par; otherwise, 1% loss for every 1% that the worst performing index declines
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| Call: | At par plus a premium of 9.75% per year if each asset closes at or above its call value on any annual call valuation date; call levels will be equal to initial levels
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| Initial levels: | 10,101.83 for Nasdaq, 3,083.76 for S&P, 25,745.6 for Dow
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| Trigger levels: | 7,071.281 for Nasdaq, 2,158.632 for S&P, 18,021.92 for Dow; 70% of initial values
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| Pricing date: | June 26
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| Settlement date: | July 1
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17328VQW3
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