Published on 3/4/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $6.01 million contingent coupon autocallables linked to S&P, Russell
Chicago, March 4 – Citigroup Global Markets Holdings Inc. priced $6.01 million of autocallable contingent coupon equity-linked securities due March 3, 2021 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 7.03% per year if the lesser-performing index closes at or above its coupon barrier, 70% of its initial level, on the valuation date for that quarter.
The notes will be automatically called at par plus the coupon if the lesser-performing index closes at or above its initial level on any quarterly potential autocall date.
The payout at maturity will be par unless either index closes below its knock-in level, 70% of its initial level, at any point during the life of the notes in which case investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
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: | Autocallable contingent coupon equity-linked securities
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $6,007,000
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| Maturity: | March 3, 2021
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| Coupon: | 7.03% per year, payable quarterly if lesser-performing index closes at or above coupon barrier on valuation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless either index closes below its 70% knock-in level any day during the life of the notes, in which case investors will lose 1% for every 1% that the lesser-performing index declines from its initial level
|
| Call: | Automatically at par plus coupon if lesser-performing index closes at or above initial level on any quarterly potential autocall date
|
| Initial levels: | 1,552.761 for Russell, 3,116.39 for S&P
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| Coupon barrier value: | 1,086.933for Russell, 2,181.473for S&P, or 70% of initial levels
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| Final barrier value: | 1,086.933for Russell, 2,181.473for S&P, or 70% of initial levels
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| Pricing date: | Feb. 26
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| Settlement date: | March 2
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.875%
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| Cusip: | 17328VD49
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