Published on 11/1/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.88 million autocallable securities on three indexes
By Taylor Fox
New York, Nov. 2 – Citigroup Global Markets Holdings Inc. priced $1.88 million of 0% autocallable securities due Oct. 9, 2025 linked to the S&P 500 index, the Nasdaq- 100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each index closes at or above its initial level on any annual valuation date, the notes will be called at par plus a premium at an annual rate of 9.2%.
It the notes are not called and each index finishes at or above its initial level the payout will be par plus the 46% premium. If the least performing index falls but not below the barrier level, 70% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Autocallable securities
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Underlying indexes: | S&P 500 index, Nasdaq- 100 index and Dow Jones industrial average
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Amount: | $1,875,000
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Maturity: | Oct. 9, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above its initial level par plus the 46% maturity date premium; if any index falls but not below barrier level, par; otherwise, 1% loss for each 1% decline of the worst performing index from its initial level
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Call: | Automatically at par plus an annualized premium of 9.2% if each index closes at or above its initial level on any annual valuation date
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Initial levels: | 27,772.76 for Dow, 11,291.27for Nasdaq, 3,360.95 for S&P
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Buffer levels: | 19,440.932 for Dow, 7,903.889 for Nasdaq, 2,352.665 for S&P, 70% of initial levels
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Pricing date: | Oct. 6
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Settlement date: | Oct. 9
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.125%
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Cusip: | 17328WMV7
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