Published on 4/22/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $500,000 contingent coupon autocallables on three stocks
By Sarah Lizee
Olympia, Wash., April 22 – Citigroup Global Markets Holdings Inc. priced $500,000 of autocallable contingent coupon equity-linked securities due April 20, 2023 linked to the least performing of the common stocks of BlackRock, Inc., Facebook, Inc. and Johnson & Johnson, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at the rate of 14.5% per year if the least-performing stock closes at or above its coupon barrier value, 50% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if the least-performing stock closes at or above its initial price on any quarter autocall date starting after six months.
The payout at maturity will be par unless the least-performing stock finishes below its final barrier value, 60% of its initial share price, in which case investors will have full exposure to loss of least-performing stock.
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: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | BlackRock, Inc., Facebook, Inc. and Johnson & Johnson
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| Amount: | $500,000
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| Maturity: | April 20, 2023
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| Coupon: | 14.5% per year, payable each month if least-performing stock closes at or above coupon barrier value on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless least-performing stock finishes below final barrier value, in which case full exposure to loss of least-performing stock
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| Call: | Automatically at par if least-performing stock closes at or above initial share price on any quarterly valuation date after six months
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| Initial share prices: | $452.39 for BlackRock, $174.79 for Facebook, $139.77 for Johnson
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| Coupon barriers: | $226.195 for BlackRock, $87.395 for Facebook, $69.885 for Johnson, or 50% of initial share prices
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| Barrier values: | $271.434 for BlackRock, $104.874 for Facebook, $83.862 for Johnson, or 60% of initial share prices
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| Pricing date: | April 16
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| Settlement date: | April 21
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17328VWG1
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