By Kiku Steinfeld
Chicago, Oct. 28 – Citigroup Global Markets Holdings Inc. priced $1.24 million of 0% barrier securities due Oct. 27, 2025 linked to the worst performing of 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 the worst performing index is greater than its initial level, the payout at maturity will be par plus the index gain, capped at 71%.
If the final level of the worst performing index is less than or equal to its initial level but greater than or equal to its 75% barrier level, the payout will be par.
If the final level of the worst performing index is less than the 75% barrier level, 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.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Barrier securities
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| Underlying indexes: | Dow Jones industrial average, S&P 500 index
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| Amount: | $1,242,000
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| Maturity: | Oct. 27, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of worst performing index is greater than initial level, par plus index gain, capped at 71%; if final level of worst performing index is less than or equal to initial level but greater than or equal to barrier level, par; otherwise, full exposure to decline of worst performing index
|
| Initial index levels: | Lowest closing level of each index on any of three monthly dates starting on Oct. 22. 2020 and ending on Dec. 22, 2020
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| Final index levels: | Closing level of each index on Oct. 22, 2025
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| Barrier levels: | 75% of initial levels
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| Pricing date: | Oct. 22
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| Settlement date: | Oct. 27
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4.125%
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| Cusip: | 17328WQT8
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