Published on 8/6/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3.12 million autocallable securities on three indexes
By Kiku Steinfeld
Chicago, Aug. 6 – Citigroup Global Markets Holdings Inc. priced $3.12 million of 0% autocallable securities due July 31, 2025 linked to the Nasdaq-100 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.
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 11% a year.
If each index finishes at or above its initial level the payout will be par plus 55%. 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 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 indexes: | Nasdaq-100, Russell 2000, Dow Jones industrial average
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Amount: | $3,119,000
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Maturity: | July 31, 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 55%; 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 11% if each index closes at or above its initial level on any annual valuation date
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Initial levels: | 26,379.28 for Dow, 1,469.755 for Russell, 10,532.50 for Nasdaq
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Trigger levels: | 18,465.496 for Dow, 1,028.829 for Russell, 7,372.750 for Nasdaq, 70% of initial levels
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Pricing date: | July 28
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Settlement date: | July 31
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.125%
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Cusip: | 17328VZU7
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