Published on 10/26/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.87 million autocallable securities on Dow, Russell, S&P
By Taylor Fox
New York, Oct. 26 – Citigroup Global Markets Holdings Inc. priced $1.87 million of 0% autocallable securities due Sept. 29, 2026 linked to the worst performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Global Markets Inc.
The notes are called at par plus a premium of 10.5% per year if each asset closes at or above its initial level on any annual call valuation date.
The payout at maturity will be par plus the 63% premium applicable if the worst performing index closes above 80% of its initial value.
The payout at maturity will be par if the worst performing index finishes between 75% and 80% of its initial level, otherwise investors will be exposed to losses of the worst performing index.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Autocallable securities
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| Underlying assets: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
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| Amount: | $1,865,000
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| Maturity: | Sept. 29, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus the final 63% call premium if worst performing asset finishes above 80% of initial level; par if worst performing asset finishes between 75% and 80% of its initial level; otherwise full exposure to decline of worst performer
|
| Call: | At par plus a call premium of 10.5% per year if each asset closes at or above its initial value on any annual call valuation date
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| Initial values: | 27,288.18 for Dow, 1,496.961 for Russell, 3,315.57 for S&P
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| Trigger values: | 21,830.544 for Dow, 1,197.569 for Russell, 2,652.456 for S&P; 80% of initial values
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| Final barrier values: | 20,466.135 for Dow, 1,122.721 for Russell, 2,486.678 for S&P; 75% of initial values
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| Pricing date: | Sept. 22
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| Settlement date: | Sept. 29
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | None
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| Cusip: | 17328WDY1
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