Published on 12/20/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $6.02 million autocallables linked to S&P, Russell, Dow
By Angela McDaniels
Tacoma, Wash., Dec. 20 – Citigroup Global Markets Holdings Inc. priced $6.02 million of 0% autocallable securities due Dec. 23, 2024 linked to the least performing of 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.
Beginning Dec. 18, 2020, the notes will be automatically called at par plus a call premium of 8.3% per year if each index closes at or above its initial level on any annual 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 41.5%.
If the final level of the lesser-performing index is less than its initial level but greater than or equal to its trigger value, 65% 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.
The notes are guaranteed by Citigroup Inc.
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 and Dow Jones industrial average
|
| Amount: | $6,015,000
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| Maturity: | Dec. 23, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| 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 41.5%; 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 Dec. 18, 2020, automatically at par plus call premium of 8.3% per year if each index closes at or above initial level on any annual valuation date
|
| Initial levels: | 3,191.14 for S&P 500, 1,661.731 for Russell 2000 and 28,239.28 for Dow
|
| Trigger values: | 2,074.241 for S&P 500, 1,080.125 for Russell 2000 and 18,355.532 for Dow, or 65% of initial levels
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 23
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4.125%
|
| Cusip: | 17327TH66
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