Published on 5/4/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.82 million contingent coupon autocallables on four stocks
By Wendy Van Sickle
Columbus, Ohio, May 4 – Citigroup Global Markets Holdings Inc. priced $2.82 million of autocallable contingent coupon equity-linked securities due May 1, 2023 linked to the least performing of the common stocks of Facebook, Inc., Walt Disney Co., Apple Inc. and FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 19% per year if the least-performing stock closes at or above its coupon barrier value, 60% 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 quarterly autocall date.
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: | Walt Disney Co., Facebook, Inc., Apple Inc. and FedEx Corp.
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| Amount: | $2,815,000
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| Maturity: | May 1, 2023
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| Coupon: | 19% per year, payable each quarter 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
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| Initial share prices: | $106.21 for Disney, $182.91 for Facebook, $278.58 for Apple, $127.74 for FedEx
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| Coupon barriers: | $63.726 for Disney, $109.746 for Facebook, $167.148 for Apple, $76.644 for FedEx, or 60% of initial share prices
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| Barrier values: | $63.726 for Disney, $109.746 for Facebook, $167.148 for Apple, $76.644 for FedEx, or 60% of initial share prices
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| Pricing date: | April 28
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| Settlement date: | April 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17324XF39
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