Published on 5/15/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $500,000 barrier securities on indexes
By Sarah Lizee
Olympia, Wash., May 15 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% barrier securities due May 16, 2025 linked to the worst performing of 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 final level of the worst performing index is greater than or equal to its initial level, the payout at maturity will be par plus 1.84 times the return of that index.
If the final level of the worst performing index is less than its initial level but greater than or equal to its 70% barrier level, the payout will be par.
If the final level of the worst performing index is less than the 70% barrier level, investors will be fully exposed to the decline of the worst performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Barrier securities
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| Underlying indexes: | Russell 2000 index, S&P 500 index and Dow Jones industrial average
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| Amount: | $500,000
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| Maturity: | May 16, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final level of the worst performing index is greater than or equal to its initial level, par plus 1.84 times the return of that index; if the final level of the worst performing index is less than its initial level but greater than or equal to its barrier level, par; otherwise, full exposure to the decline of the worst performing index
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| Initial levels: | 23,247.97 for Dow, 1,233.251 for Russell and 2,820.00 for S&P
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| Barrier levels: | 16,273.579 for Dow, 863.276 for Russell and 1,974.00 for S&P; 70% of initial levels
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| Pricing date: | May 13
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| Settlement date: | May 18
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17328VR77
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