Published on 6/25/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.06 million contingent coupon autocallables on three stocks
By Sarah Lizee
Olympia, Wash., June 25 – Citigroup Global Markets Holdings Inc. priced $3.06 million of autocallable contingent coupon equity-linked securities due June 22, 2023 linked to the least performing of the common stocks of American Electric Power Co., Duke Energy Corp. and Edison International, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 12.3% per year if the least-performing stock closes at or above its coupon barrier value, 60% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if the least-performing stock closes at or above its initial price on any monthly autocall date starting after six months.
The payout at maturity will be par unless the least-performing stock finishes below its final barrier value, 60% of its initial share price, in which case investors will have full exposure to loss of least-performing stock.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | American Electric Power Co., Duke Energy Corp. and Edison International
|
| Amount: | $3,055,000
|
| Maturity: | June 22, 2023
|
| Coupon: | 12.3% per year, payable quarterly if least-performing stock closes at or above coupon barrier value on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless least-performing stock finishes below final barrier value, in which case full exposure to loss of least-performing stock
|
| Call: | Automatically at par if least-performing stock closes at or above its initial share price on any monthly valuation date after six months
|
| Initial share prices: | $81.77 for American Electric, $85.77 for Duke, $58.84 for Edison
|
| Coupon barriers: | $49.062 for American Electric, $51.462 for Duke, $35.304 for Edison, or 60% of initial share prices
|
| Final barrier values: | $49.062 for American Electric, $51.462 for Duke, $35.304 for Edison, or 60% of initial share prices
|
| Pricing date: | June 18
|
| Settlement date: | June 23
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.35%
|
| Cusip: | 17328VVV9
|
|
|
© 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.
