Published on 6/5/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $968,000 contingent coupon autocallables on three stocks
By Wendy Van Sickle
Columbus, Ohio, June 5 – Citigroup Global Markets Holdings Inc. priced $968,000 of autocallable contingent coupon equity-linked securities due June 6, 2023 linked to the least performing of the common stocks of Amazon.com, Inc., Facebook, Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 15% 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 monthly 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: | Amazon.com, Inc., Facebook, Inc. and Netflix, Inc.
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| Amount: | $968,000
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| Maturity: | June 6, 2023
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| Coupon: | 15% per year, payable quarterly 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 its initial share price on any monthly valuation date after six months
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| Initial share prices: | $2,442.37 for Amazon, $225.09 for Facebook, $419.73 for Netflix
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| Coupon barriers: | $1,465.422 for Amazon, $135.054 for Facebook, $251.838 for Netflix, or 60% of initial share prices
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| Final barrier values: | $1,465.422 for Amazon, $135.054 for Facebook, $251.838 for Netflix, or 60% of initial share prices
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| Pricing date: | May 29
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| Settlement date: | June 5
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17328VXS4
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