Published on 9/18/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $4.92 million autocallable securities on Nasdaq, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Sept. 18 – Citigroup Global Markets Holdings Inc. priced $4.92 million of 0% autocallable securities due Sept. 19, 2023 linked to the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each index closes at or above its initial level on any quarterly valuation date, the notes will be called at par plus a premium of 19.25% a year.
If each index finishes at or above its initial level the payout will be par plus 57.75%. If the least performing index falls but not below the trigger level, 70% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying indexes: | Russell 2000 index, S&P 500 index and Nasdaq-100 index
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| Amount: | $4,916,000
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| Maturity: | Sept. 19, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus 57.75%; if any index falls but not below trigger level, par; otherwise, 1% loss for each 1% decline of the worst performing index from its initial level
|
| Call: | Automatically at par plus an annualized premium of 19.25% if each index closes at or above its initial level on any quarterly valuation date
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| Initial levels: | 3,383.54 for S&P, 11,277.76 for Nasdaq, 1,536.974 for Russell
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| Trigger levels: | 2,368.478 for S&P, 7,894.432 for Nasdaq, 1,075.882 for Russell; 70% of initial levels
|
| Pricing date: | Sept. 14
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| Settlement date: | Sept. 17
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.95%
|
| Cusip: | 17328WKJ6
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