By Angela McDaniels
Tacoma, Wash., July 8 – Citigroup Global Markets Holdings Inc. priced $845,000 of 0% autocallable securities due June 28, 2024 linked to the lesser performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Beginning June 25, 2020, the notes will be automatically called at par plus a call premium of 8% per year if each index closes at or above its initial level on any quarterly valuation date.
If the notes are not called and the final level of the lesser-performing index is greater than or equal to its initial level, the payout at maturity will be par plus 40%.
If the final level of the lesser-performing index is less than its initial level but greater than or equal to its trigger value, 70% of its initial level, the payout will be par.
If the final level of the lesser-performing index is less than its trigger value, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
|
| Underlying indexes: | Dow Jones industrial average and Russell 2000
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| Amount: | $845,000
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| Maturity: | June 28, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If notes are not called and final level of lesser-performing index is greater than or equal to initial level, par plus 40%; if final level of lesser-performing index is less than initial level but greater than or equal to trigger value, par; if final level of lesser-performing index is less than trigger value, 1% loss for every 1% that lesser-performing index declines from initial level
|
| Call: | Beginning June 25, 2020, automatically at par plus call premium of 8% per year if each index closes at or above initial level on any quarterly valuation date
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| Initial levels: | 1,521.035 for Russell 2000 and 26,548.22 for Dow
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| Trigger values: | 1,064.725 for Russell 2000 and 18,583.754 for Dow, or 70% of initial levels
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| Pricing date: | June 25
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| Settlement date: | June 28
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3%
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| Cusip: | 17327TAA4
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