Published on 12/20/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.9 million autocallable contingent coupon notes on indexes
Chicago, Dec. 20 – Citigroup Global Markets Holdings Inc. priced $1.9 million of autocallable contingent coupon notes due Dec. 16, 2024 linked to the Russell 2000 index, the Dow Jones industrial average and the Nasdaq-100 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 monthly coupon at an annualized rate of 5% if each index closes at or above its coupon barrier, 70% of its initial level, on the valuation date for that period.
The notes will be automatically called at par plus any coupon on any monthly potential autocall date starting after one year if all the indexes finish above their initial levels.
If the notes are not called and the final level of each index is greater than or equal to its 60% final barrier level, the payout at maturity will be par plus any contingent coupon due. Otherwise, investors will be fully exposed to the decline of the worse performing index.
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 indexes: | Russell 2000, Dow Jones industrial average and the Nasdaq-100
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| Amount: | $1,901,000
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| Maturity: | Dec. 16, 2024
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| Coupon: | 5% per year, payable monthly if all indexes close at or above barrier level on valuation date for that period
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| Price: | Par
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| Payout at maturity: | If final level of each index is greater than or equal to barrier level, par plus final coupon; otherwise, full exposure to decline of lesser performing index
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| Call: | Automatically called at par plus any coupon on any monthly potential autocall date starting after one year if all indexes finish above initial levels
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| Initial levels: | 1,631.926 for Russell, 27,911.30 for Dow, 8,402.609 for Nasdaq
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| Coupon barrier levels: | 1,142.348 for Russell, 19,537.910 for Dow, 5,881.826 for Nasdaq, 70% of initial levels
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| Barrier levels: | 979.156 for Russell, 16,746.780 for Dow, 5,041.565 for Nasdaq, 60% of initial levels
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| Pricing date: | Dec. 11
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| Settlement date: | Dec. 16
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17327THQ2
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