Published on 4/9/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $5.53 million autocallable securities on S&P, Russell, Dow
Chicago, April 9 – Citigroup Global Markets Holdings Inc. priced $5.53 million of 0% autocallable securities due March 27, 2025 tied to the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Starting March 23, 2021, if each index closes at or above of its call level on any annual valuation date, the notes will be called at par plus a premium of 23.48% a year. The call level for each index will be 100% of its initial level.
If each index finishes at or above its initial level, the payout will be par plus 117.4%.
If the least performing index falls but not below the barrier level, 65% 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, Russell 2000, Dow Jones industrial average
|
Amount: | $5,532,000
|
Maturity: | March 27, 2025
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above its initial level, par plus 117.4%; if the least performing index falls but not below the barrier level, par; 1% for each 1% decline of the worst performing index from its initial level if it falls beyond barrier level
|
Call: | Starting March 23, 2021, if each index closes at or above its initial level on any annual valuation date, the notes will be called at par plus a premium of 23.48% a year; call level for each index will be 100% of its initial level
|
Initial levels: | 2,237.40 for S&P, 1,002.417 for Russell, 18,591.93 for Dow
|
Final barriers: | 1,454.310 for S&P, 651.571 for Russell, 12,084.755 for Dow; 65% of initial levels
|
Pricing date: | March 23
|
Settlement date: | March 26
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | 4.125%
|
Cusip: | 17328VAA8
|
|
© 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.