Published on 1/10/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $600,000 callable contingent coupon notes on three indexes
By Kiku Steinfeld
Chicago, Jan. 10 – Citigroup Global Markets Holdings Inc. priced $600,000 callable contingent coupon equity-linked securities due Jan. 2, 2025 tied to the worst performing of the Nasdaq-100 index, the Russell 2000 index 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 quarterly coupon at an annualized rate of 6.25% if the worst performing index closes at or above its 60% coupon barrier value on the relevant valuation date.
The notes may be called at par plus any coupon, in whole but not in part, at the option of the issuer on any quarterly contingent coupon payment date beginning in December 2020 and ending in September 2024.
The payout at maturity will be par plus the final coupon if the worst performing index closes at or above its 60% final barrier value.
Otherwise investors will be fully exposed to the losses of the worst performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
|
| Amount: | $600,000
|
| Maturity: | Jan. 2, 2025
|
| Coupon: | 6.25% annualized rate, payable quarterly if worst performing index closes at or above coupon barrier value
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if worst performing index closes at or above final barrier value, otherwise full exposure to losses of worst performing index
|
| Call: | At par plus any coupon at option of issuer on any quarterly contingent coupon payment date beginning in December 2020 and ending in September 2024
|
| Initial levels: | 8,770.979 Nasdaq, 1,669.033 for Russell and 3,240.02 for S&P
|
| Coupon barrier levels: | 5,262.587 Nasdaq, 1,001.420 for Russell and 1,944.012 for S&P, 60% of initial levels
|
| Final barrier values: | 5,262.587 Nasdaq, 1,001.420 for Russell and 1,944.012 for S&P, 60% of initial levels
|
| Pricing date: | Dec. 27
|
| Settlement date: | Jan. 2
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.125%
|
| Cusip: | 17327TT30
|
|
|
© 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.
