Published on 4/23/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.1 million callable contingent coupon securities on Russell, S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, April 23 – Citigroup Global Markets Holdings Inc. priced $2.1 million of callable contingent coupon equity-linked securities due April 21, 2022 linked 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.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 10.65% if the notes close at or above the coupon barrier, 60% of the initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any valuation date after six months.
If each asset finishes at or above its final barrier level, 60% of its initial level, the payout at maturity will be par plus the coupon, if any. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
|
Guarantor: | Citigroup Inc.
|
Issue: | Callable contingent coupon equity-linked securities
|
Underlying indexes: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
|
Amount: | $2,102,000
|
Maturity: | April 21, 2022
|
Coupon: | 10.65%, payable quarterly if each index closes above coupon barrier on related observation date
|
Price: | Par
|
Call option: | At par plus any coupon due on any valuation date after six months
|
Payout at maturity: | If each asset finishes at or above final barrier, par plus any coupon; otherwise, full exposure to losses of least-performing asset
|
Initial levels: | 24,242.49 for Dow, 1,229.098 for Russell, 2,874.56 for S&P
|
Coupon barrier/barriers: | 14,545.494 for Dow, 737.459 for Russell, 1,724.736 for S&P; 60% of initial levels
|
Pricing date: | April 17
|
Settlement date: | April 22
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | 2%
|
Cusip: | 17328VJ50
|
|
© 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.