Published on 12/14/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.49 million autocallable securities on Dow, S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Dec. 14 – Citigroup Global Markets Holdings Inc. priced $1.49 million of 0% autocallable securities due Dec. 9, 2025 linked to the Dow Jones industrial average, the S&P 500 index and the Nasdaq-100 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 after one year, the notes will be called at par plus an annual premium of 9.75%.
If each index finishes at or above its initial level, the payout at maturity will be par plus 48.75%.
If the least performing index falls but not below its final barrier 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 underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | S&P 500 index, Nasdaq-100 index and Dow Jones industrial average
|
| Amount : | $1,493,000
|
| Maturity: | Dec. 9, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above initial level, par plus 48.75%; if worst performing index declines but finishes at or above final barrier level, par; otherwise, 1% loss for each 1% decline of the worst performing index from its initial level
|
| Call: | Automatically at par plus an annual premium of 9.75% if each index closes at or above its initial level on any quarterly valuation date after one year
|
| Initial levels: | 3,699.12 for S&P, 30,218.26 for Dow, 12,528.48 for Nasdaq
|
| Final barrier levels: | 2,589.384 for S&P, 21,152.782 for Dow, 8,769.936 for Nasdaq, 70% of initial levels
|
| Pricing date: | Dec. 4
|
| Settlement date: | Dec. 9
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.125%
|
| Cusip: | 17328YAB0
|
|
|
© 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.
