Published on 9/4/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.08 million barrier securities on linked to Dow, Nasdaq, S&P
By Wendy Van Sickle
Columbus, Ohio, Sept. 4 – Citigroup Global Markets Holdings Inc. priced $2.08 million of 0% barrier securities due Sept. 3, 2025 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 payout at maturity will be par plus 110.5% of the worst performing index if all three underliers finish above their initial levels.
If the worst performer declines, but not more than 50%, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the decline of the worst performing index.
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: | Barrier securities
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Underlying indexes: | Dow Jones industrial average, Nasdaq-100 and the S&P 500
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Amount: | $2,075,000
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Maturity: | Sept. 3, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 110.5% of return of worst performing index, if all three finish positive; par if worst performer declines, but not more than 50%; otherwise full exposure to decline of worst performer
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Initial index levels: | 28,653.87 for Dow, 11,995.85 for Nasdaq, 3,508.01 for S&P 500
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Barrier levels: | 14,326.935 for Dow, 5,997.925 for Nasdaq, 1,754.005 for S&P 500; 50% of initial levels
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Pricing date: | Aug. 28
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Settlement date: | Sept. 2
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 4.125%
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Cusip: | 17328WKY3
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