Published on 11/5/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.18 million autocallable securities on Dow, Russell, S&P
By Taylor Fox
New York, Nov. 5 – Citigroup Global Markets Holdings Inc. priced $2.18 million of 0% autocallable securities due May 15, 2026 linked to the S&P 500 index, the Russell 2000 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 95% of its initial level on any semiannual valuation date after one year, the notes will be called at par plus an annual premium of 11.7%.
If each index finishes at or above 95% of its initial level, the payout at maturity will be par plus 64.35%.
If the least performing index falls by more than 5% but not below its final barrier level, 75% 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 underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | S&P 500, Russell 2000, Dow Jones industrial average
|
| Amount: | $2,183,000
|
| Maturity: | May 15, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above 95% of initial level, par plus 64.35%; if worst performing index declines by more than 5% and finishes at or above final barrier level, par; otherwise, 1% loss for each 1% decline of the worst performing index from its initial level
|
| Call: | Automatically at par plus an annual premium of 11.7% if each index closes at or above its call level, 95% of its initial level, on any semiannual valuation date starting after one year
|
| Initial levels: | 28,425.51 for Dow, 1,628.547 for Russell, 3,446.83 for S&P
|
| Final barrier levels: | 21,319.133 for Dow, 1,221.410 for Russell, 2,585.123 for S&P, 75% of initial levels
|
| Pricing date: | Oct. 8
|
| Settlement date: | Oct. 16
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17328WPS1
|
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