Published on 9/7/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $978,000 barrier securities linked to Dow, Nasdaq, S&P
By Taylor Fox
New York, Sept. 8 – Citigroup Global Markets Holdings Inc. priced $978,000 of 0% barrier securities due Aug. 28, 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 the return of worst performing index if all three underliers finish above their initial levels.
If the worst performer declines, but not more than 30%, 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: | $978,000
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Maturity: | Aug. 28, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus return of worst performing index, if all finish positive; par if worst performer declines, but not more than 30%; otherwise full exposure to decline of worst performer
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Initial index levels: | 28,308.46 for Dow, 11,626.17 Nasdaq, 3,431.28 for S&P 500
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Barrier levels: | 19,815.922 for Dow, 8,138.319 for Nasdaq, 2,401.896 for S&P 500; 70% of initial levels
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Pricing date: | Aug. 24
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Settlement date: | Aug. 27
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 4.125%
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Cusip: | 17328WDM7
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