Published on 10/29/2020 in the Prospect News Structured Products Daily.
New Issue: Citi sells $500,000 dual directional barrier securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 29 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% dual directional barrier securities due April 27, 2023 linked to the Russell 2000 index, the Nasdaq-100 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 worst performing index finishes at or above its initial level, the payout at maturity will be par plus the return of the least performing index.
If the worst performing index falls by up to 30%, the payout will be par plus the absolute value of the return of the worst performing index.
Otherwise, 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: | Dual directional barrier securities
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average
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| Amount: | $500,000
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| Maturity: | April 27, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the worst performing index finishes at or above its initial level, par plus return of the least performing index; if the worst performing index falls by up to barrier level, par plus the absolute value of the return of the worst performing index; otherwise, full exposure to decline of the least performing index
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| Initial levels: | 11,692.57 for Nasdaq, 28,335.57 for Dow, 1,640.502 for Russell
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| Barrier levels: | 8,184.799 for Nasdaq, 19,834.899 for Dow, 1,148.351 for Russell, 70% of initial levels
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| Pricing date: | Oct. 23
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| Settlement date: | Oct. 28
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.9%
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| Cusip: | 17328WNS3
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