Published on 8/26/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.3 million autocallable securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 26 – Citigroup Global Markets Holdings Inc. priced $2.3 million of 0% autocallable securities due Aug. 26, 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.
If each index closes at or above 90% of its initial level on any annual valuation date, the notes will be called at par plus a premium of 11.5% a year.
If each index finishes at or above its initial level the payout will be par plus 57.5%. If the least performing index falls but not below the trigger level, 75% 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: | S&P 500, Russell 2000, Dow Jones industrial average
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| Amount: | $2,295,000
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| Maturity: | Aug. 26, 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 57.5%; 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 11.5% if each index closes at or above 90% of its initial level on any annual valuation date
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| Initial levels: | 27,930.33 for Dow, 1,552.476 for Russell, 3,397.16 for S&P
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| Trigger levels: | 20,947.748 for Dow, 1,164.357 for Russell, 2,547.87 for S&P, 75% of initial levels
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| Pricing date: | Aug. 21
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| Settlement date: | Aug. 26
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0%
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| Cusip: | 17328WGM4
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