Published on 4/21/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $841,000 contingent coupon autocallables on three stocks
Chicago, April 21 – Citigroup Global Markets Holdings Inc. priced $841,000 of autocallable contingent coupon equity-linked securities due March 30, 2023 linked to the least performing of the common stocks of Capital One Financial Corp., Costco Wholesale Corp. and United Rentals, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at the rate of 19.55% per year if the least-performing stock closes at or above its coupon barrier value, 50% 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 quarter autocall date starting after six months.
The payout at maturity will be par unless the least-performing stock finishes below its final barrier value, 50% 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.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Capital One Financial Corp., Costco Wholesale Corp. and United Rentals, Inc.
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| Amount: | $841,000
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| Maturity: | March 30, 2023
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| Coupon: | 19.55% per year, payable each month if least-performing stock closes at or above coupon barrier value on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless least-performing stock finishes below final barrier value, in which case full exposure to loss of least-performing stock
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| Call: | Automatically at par if least-performing stock closes at or above initial share price on any quarterly valuation date after six months
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| Initial share prices: | $57.87 for Capital One, $292.30 for Costco, $99.18 for United Rentals
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| Coupon barriers: | $28.935 for Capital One, $146.150 for Costco, $49.590 for United Rentals, or 50% of initial share prices
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| Barrier values: | $28.935 for Capital One, $146.150 for Costco, $49.590 for United Rentals, or 50% of initial share prices
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| Pricing date: | March 26
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| Settlement date: | March 31
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17328VBV1
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