Published on 2/13/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.84 million contingent coupon autocallables linked to S&P, Stoxx
By Sarah Lizee
Olympia, Wash., Feb. 13 – Citigroup Global Markets Holdings Inc. priced $1.84 million of autocallable contingent coupon equity-linked securities due Feb. 1, 2024 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 6% per year if the lesser-performing index closes at or above its knock-in value, 80% of its initial level, on the valuation date for that quarter.
After one year, the notes will be automatically called at par if the lesser-performing index closes at or above its initial level on any quarterly potential autocall date.
The payout at maturity will be par unless either index closes below its knock-in value, in which case investors will lose 1% for every 1% that the lesser-performing index 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.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying indexes: | S&P 500 and Euro Stoxx 50
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| Amount: | $1,836,000
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| Maturity: | Feb. 1, 2024
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| Coupon: | 6% per year, payable quarterly if lesser-performing index closes at or above knock-in value on valuation date for that quarter
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| Price: | Par
|
| Payout at maturity: | Par unless either index closes below its knock-in value, in which case investors will lose 1% for every 1% that the lesser-performing index declines from its initial level
|
| Call: | After one year, notes will be automatically called at par if lesser-performing index closes at or above initial level on any quarterly potential autocall date
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| Initial levels: | 3,736.36 for Stoxx, 3,273.40 for S&P
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| Knock-in value: | 2,989.088 for Stoxx, 2,618.720 for S&P, or 80% of initial levels
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| Pricing date: | Jan. 29
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| Settlement date: | Feb. 3
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17327TQ90
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