Published on 4/23/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $807,000 contingent coupon callables linked to indexes
By Wendy Van Sickle
Columbus, Ohio, April 23 – Citigroup Global Markets Holdings Inc. priced $807,000 of callable contingent coupon equity-linked securities due April 23, 2025 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 9% per year if the least-performing underlier closes at or above its coupon barrier value, 70% of its initial share price, on the valuation date for that period.
The notes will be callable at par plus any coupon on any quarterly call date after one year.
The payout at maturity will be par unless the least-performing underlier finishes below its final barrier value, 60% of its initial level, in which case investors will lose 1% for every 1% that the least-performing underlier 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.
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| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underliers: | Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average
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| Amount: | $807,000
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| Maturity: | April 23, 2025
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| Coupon: | 9% per year, payable quarterly if least-performing underlier 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 underlier finishes below final barrier value, in which case 1% loss for every 1% that least-performing underlier declines from initial level
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| Call option: | At par plus any coupon on any quarterly call date after one year
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| Initial levels: | 24,242.49 for Dow, 8,832.414 for Nasdaq, 1,229.098 for Russell
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| Coupon barriers: | 16,969.743 for Dow, 6,182.690 for Nasdaq, 860.369 for Russell, 70% of initial levels
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| Final barriers: | 14,545.494 for Dow, 5,299.448 for Nasdaq, 737.459 for Russell, 60% of initial levelsPricing date: | April 17
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| Settlement date: | April 22
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17328VTG5
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