Published on 4/8/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $296,000 contingent coupon autocalls on indexes
By Wendy Van Sickle
Columbus, Ohio, April 8 – Citigroup Global Markets Holdings Inc. priced $296,000 of autocallable contingent coupon equity-linked securities due March 17, 2022 linked to the least performing of the Russell 2000 index, the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 10.5% if each index closes at or above the 70% coupon barrier on the review date that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date.
The payout at maturity will be par unless any index falls below the 60% threshold, in which case investors will be fully exposed to any decline of the worst performing index.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average and S&P 500 index
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| Amount: | $296,000
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| Maturity: | March 17, 2022
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| Coupon: | 10.5% annualized, payable quarterly if each index closes at or above coupon barrier on the review date that quarter
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| Price: | Par
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| Payout at maturity: | If each index closes above trigger, par; otherwise, 1% loss for each 1% decline of worst performing index
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| Call: | At par if each index closes at or above its initial level on any quarterly review date
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| Initial levels: | 21,636.78 for Dow, 1,131.988 for Russell, 2,541.47 for S&P
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| Coupon barriers: | 15,145.746 for Dow, 792.392 for Russell, 1,779.029 for S&P; 70% of initial levels
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| Trigger levels: | 12,982.068 for Dow, 679.193 for Russell, 1,524.882 for S&P, 60% of initial levels
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| Pricing date: | March 27
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| Settlement date: | April 1
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17328VA67
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