Published on 8/30/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.66 million barrier digital securities on Invesco QQQ
By Taylor Fox
New York, Aug. 31 – Citigroup Global Markets Holdings Inc. priced $1.66 million of 0% barrier digital securities due Aug. 23, 2022 linked to the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
If the underlying value is greater than or equal to the initial underlying value, the payout at maturity will be par plus the digital return of 19.5%.
If the final underlying value is less than the initial value, but greater than or equal to the 75% barrier value, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines from its initial level, payable either in shares or in cash.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Barrier digital securities
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| Underlying ETF: | Invesco QQQ Trust, Series 1
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| Amount: | $1,655,000
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| Maturity: | Aug. 23, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the underlying value is greater than or equal to the initial underlying value, the payout at maturity will be par plus the digital return of 19.5%; if the final underlying value is less than the initial value, but greater than or equal to the 75% barrier value, the payout will be par; otherwise, investors will lose 1% for every 1% that the index declines from its initial level, payable in shares or cash
|
| Initial share price: | $277.97
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| Final barrier value: | $208.478, or 75% of initial share price
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| Equity ratio: | 3.59751
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| Pricing date: | Aug. 18
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| Settlement date: | Aug. 21
|
| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324XW71
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