Published on 8/20/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $500,000 autocallable securities linked to Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Aug. 20 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% autocallable securities due Aug. 21, 2025 linked to the Russell 2000 index and the S&P 500 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 semiannual valuation date after one year, the notes will be called at par plus a premium of 7.25% a year.
If each index finishes at or above its initial level the payout will be par plus 36.25%. 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.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying indexes: | Russell 2000 index, S&P 500 index
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| Amount: | $500,000
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| Maturity: | Aug. 21, 2025
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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 36.25%; 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
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| Call: | Automatically at par plus an annualized premium of 7.25% if each index closes at or above its initial level on any semiannual valuation date after one year
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| Initial levels: | 1,585.474 for Russell, 3,381.99 for S&P
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| Trigger levels: | 1,109.832 for Russell, 2,367.393 for S&P, 70% of initial levels
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| Pricing date: | Aug. 17
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| Settlement date: | Aug. 20
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17328WGR3
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