Published on 12/18/2020 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.36 million dual directional barrier securities on three indexes
By Taylor Fox
New York, Dec. 18 – Citigroup Global Markets Holdings Inc. priced $1.36 million of 0% dual directional barrier securities due Dec. 16, 2025 linked to the Russell 2000 index, 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 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 up to 50.45%.
If the worst performing index falls by up to 40%, the payout will be par plus 50% of 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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Dual directional barrier securities
|
| Underlying indexes: | Russell 2000 index, S&P 500 index and Dow Jones industrial average
|
| Amount: | $1,361,000
|
| Maturity: | Dec. 16, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the worst performing index finishes at or above its initial level, par plus return of the least performing index up to par plus 50.45%; if the worst performing index falls by up to barrier level, par plus 50% of the absolute value of the return of the worst performing index; otherwise, full exposure to decline of the least performing index
|
| Initial levels: | 3,663.46 for S&P, 30,046.37 for Dow, 1,911.697 for Russell
|
| Barrier levels: | 2,198.076 for S&P, 18,027.822 for Dow, 1,147.018 for Russell, 60% of initial levels
|
| Pricing date: | Dec. 11
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| Settlement date: | Dec. 16
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4.125%
|
| Cusip: | 17328YBZ6
|
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