Published on 12/4/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.61 million contingent coupon autocallables on Dow, Gold Miners
By Wendy Van Sickle
Columbus, Ohio, Dec. 4 – Citigroup Global Markets Holdings Inc. priced $1.61 million of autocallable contingent coupon equity-linked securities due Nov. 26, 2021 linked to the least performing of the Dow Jones industrial average and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 8% per year if the least-performing asset closes at or above its coupon barrier value, 80% of its initial share price, on the valuation date for that month.
The notes will be automatically called at par if the least-performing asset closes at or above its initial price on any quarterly call valuation date after one year.
The payout at maturity will be par unless the least-performing asset finishes below its buffer level, 80% of its initial share price, in which case investors will have exposure to the loss of the worst performing underlying asset beyond the buffer.
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 assets: | Dow Jones industrial average and VanEck Vectors Gold Miners ETF
|
| Amount: | $1,613,000
|
| Maturity: | Nov. 26, 2021
|
| Coupon: | 8% per year, payable monthly if least-performing asset closes at or above coupon barrier value on valuation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless least-performing asset finishes below buffer, in which case exposure to loss of worst performing asset beyond buffer
|
| Call: | Automatically at par if the least-performing asset closes at or above its initial price on any quarterly call valuation date after one year
|
| Initial share prices: | 30,046.24 for Dow, $33.42 for Gold Miners
|
| Coupon barriers: | 24,036.992 for Dow, $26.736 for Gold Miners, or 80% of initial share prices
|
| Buffer values: | 24,036.992 for Dow, $26.736 for Gold Miners, or 80% of initial share prices
|
| Pricing date: | Nov. 20
|
| Settlement date: | Nov. 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.75%
|
| Cusip: | 17328WSS8
|
|
|
|
|
© 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.
