Published on 10/7/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $253,000 barrier securities on Stoxx 50, Stoxx Banks
By Wendy Van Sickle
Columbus, Ohio, Oct. 7 – Citigroup Global Markets Holdings Inc. priced $253,000 of 0% barrier securities due Oct. 6, 2025 linked to the lesser performing of the Euro Stoxx 50 index and the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the return of each index is positive or flat, the payout at maturity will be par plus 3 times the return of the lesser-performing index. The payout will be par if the final level of either index is less than its initial level but the final level of each index is greater than or equal to its barrier level, 70% of its initial level. If either index finishes below its barrier level, investors will be fully exposed to the decline of the lesser-performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Barrier securities
|
| Underlying indexes: | Euro Stoxx 50 index and Euro Stoxx Banks index
|
| Amount: | $253,000
|
| Maturity: | Oct. 6, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index return is positive, par plus 3 times lesser-performing index’s return; par if final level of lesser-performing index is less than initial level but greater than or equal to barrier level; full exposure to decline if lesser-performing index finishes below barrier level
|
| Initial index levels: | 3,193.63 for Stoxx 50, 54.5 Stoxx Banks
|
| Trigger levels: | 2,235.527 for Stoxx 50, 38.15 for Stoxx Banks, 70% of initial levels
|
| Pricing date: | Oct. 1
|
| Settlement date: | Oct. 6
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.6%
|
| Cusip: | 17328WN38
|
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