Published on 9/22/2020 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.54 million 3% autocallable equity-linked notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 22 – Citigroup Global Markets Holdings Inc. priced $1.54 million of 3% autocallable equity-linked securities due Sept. 18, 2025 tied to the worst performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable monthly.
The notes will be automatically redeemed at par plus the coupon if each index closes at or above its initial level on any quarterly review date after one year.
If the notes are not called and the final level of each index is at least 55% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the lesser performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable equity-linked securities
|
| Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
|
| Amount: | $1,543,000
|
| Maturity: | Sept. 18, 2025
|
| Coupon: | 3%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if each index finishes above 55% of its initial value; otherwise, 1% loss for every 1% decline
|
| Call: | At par plus the coupon if each index closes at or above its initial level on any quarterly review date after one year
|
| Initial levels: | 3,401.2 for S&P, 1,538.154 for Russell and 27,995.6 for Dow
|
| Downside thresholds: | 1,870.66 for S&P, 845.985 for Russell and 15,397.58 for Dow, 55% of initial levels
|
| Pricing date: | Sept. 15
|
| Settlement date: | Sept. 18
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.25%
|
| Cusip: | 17328WFR4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
