Published on 10/8/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $605,000 barrier securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 8 – Citigroup Global Markets Holdings Inc. priced $605,000 of 0% barrier securities due Sept. 30, 2024 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final level of each index return is positive or flat, the payout at maturity will be par plus 1.25 times the least performing index return. The payout will be par if the final level of each index is less than its initial level but greater than or equal to the barrier level, 70% of the initial level. If any index finishes below the barrier level, investors will be fully exposed to the decline of the least 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: | Russell 2000 index, S&P 500 index and Dow Jones industrial average
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| Amount: | $605,000
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| Maturity: | Sept. 30, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index return is positive, par plus 1.25 times least performing index return; par if final level of least performing index is less than initial level but greater than or equal to barrier level; full exposure to decline if least performing index finishes below barrier level
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| Initial levels: | 1,474.908 for Russell, 27,173.96 for Dow, 3,298.46 for S&P
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| Trigger levels: | 1,032.436 for Russell, 19,021.772 for Dow, 2,308.922 for S&P; 70% of initial levels
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.75%
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| Cusip: | 17328WFT0
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