Published on 2/21/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $227,000 enhanced barrier digital plus notes linked to Facebook
By Wendy Van Sickle
Columbus, Ohio, Feb. 21 – Citigroup Global Markets Holdings Inc. priced $227,000 of 0% enhanced barrier digital plus securities due Aug. 24, 2021 linked to the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than or equal to the final barrier value, 80% of the initial share price, the payout at maturity will be par plus the greater of the stock return and 10%, subject to a maximum return of 13%.
If the final share price is less than the final barrier value, the payout will be a number of Facebook shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
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: | Enhanced barrier digital plus securities
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| Underlying stock: | Facebook, Inc.
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| Amount: | $227,000
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| Maturity: | Aug. 24, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final share price is greater than or equal to final barrier value, par plus greater of 10% and stock return, subject to maximum return of 13%; if final share price is less than final barrier value, 4.59791 Facebook shares per $1,000 principal amount of notes or, at issuer’s option, amount in cash equal to value of those shares
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| Initial share price: | $217.49
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| Final barrier value: | $173.992, 80% of initial share price
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| Pricing date: | Feb. 19
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| Settlement date: | Feb. 24
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 17324XYD6
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